Trend line above stalled the rally
Taking a technical look at the S&P index, the index last week moved above the 200 day MA (currently at the 2016.95 level) and that break led to a string of gains that took the price up to the topside trend line connecting highs from November 2015 and December 2015. The trend line cut across at 2058.48. The high price on Tuesday peaked at 2057.26. The move from the low was about a 13.6% rise.