In short: bears still have a chance to turn things, but as of this moment, don't have any clear impulsive declines to confirm that's anything more than a "chance" yet.
It also noted that bears probably needed to get things going directly to keep their hopes alive, with the blue line still prominent and needing a whipsaw... and bears failed to even get below it momentarily.
INDU and NYA (not shown) are maybe the last possible sources of anything approximating bear hope for the moment:
In conclusion, SPX remained above rising blue, providing no additional hope for bears (as I wrote on April 24: "[The larger flat's] odds will begin fading the longer SPX sustains trade above rising blue."), and now has an opportunity to break away from it. INDU and NYA are really the only remaining X-factors at this point. Trade safe.
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