SPX 30m Chart

On Tuesday the SPX rallied back to the descending trendline on the intraday charts, and the following morning it broke above but then hit some solid resistance at 1490. Wednesday closed near 1470. Thursday opened lower on a gap down and stayed under the descending trendline for the rest of the week. One could argue that it's put in a higher low at 1445, but on the daily and weekly charts, the SPX is looking more bearish then bullish.

SPX Intraday Chart: