The stock market weakened considerably this week, and many of the indicators are now following suit with sell signals.  But $SPX price action continues to frustrate both bulls and bears, as it refuses to trend higher or lower.   So now for $SPX, there is support at 2067 - 2072 (the April and May lows), with resistance above at 2125 (the all-time highs). LM 5 8 15 spx

Equity-only put-call ratios have deteriorated badly this week. Both ratios have rolled over to sell signals.

Market breadth was the first to weaken, generating sell signals just over a week ago. They remain in place now.

Volatility has been the bullish stalwart in this market for some time.  But even that is beginning to weaken. $VIX closed above 15 and above its 20-day moving average this week.  Thus, it appears than an uptrend is beginning in $VIX, and when volatility is trending higher, that is bearish for stocks. LM 5 8 15 vix

In summary, one would think that with the deterioration of many of the technical indicators, $SPX is destined to break down.  But we have seen similar situations at other times in the last 3 or 4 years, and $SPX has not broken down.  So, until it actually happens, there remains some doubt.