The S&P 500 appears like it wants to rollover - with a MACD bearish down-cross all but confirmed, and negative divergence with the Stochastic. Weekly momentum has turned down to bullish decreasing for the first clear time since early-Q4. Prior to the so called "Trump effect" from the election when market momentum turned on a dime. IMHO it was more so about certainty rather than Trump..
Anyway, confirmation would include the continued negative expansion of the MACD histogram and a Stochastic formed lower-low than Q2 (88.9), before possibly entering overbought conditions (<80.0). The probability of increasingly bearish weekly momentum now occurring over the next several weeks has just increased. Perhaps catching a dose of the European Flu, which actually commenced life in the Quarry economies of Canada and then Australia way back in Q2.. http://bit.ly/2ihtYSn
