Is the bull run party over for the SPY – S&P500? See the charts…

Hello all and welcome to my site.  I hope to inform readers using technical analysis of the various markets and individual securities.  I would like to start with the S&P500 using the SPY for our chart today.  I am using a weekly chart going back two years.  With the recent rally in October/November, the SPY has failed to make new highs above 211.38 level set in mid-July 2015.  The December period has not shown anymore progress to the upside which may lead to a sell off in prices back to August/September lows of 186.  The few bullish criteria I see include the price is treading slightly above the 50MA (moving average) and the price is stuck in a strong range between a low of 196 and high of 210.  Otherwise, the RSI and MACD indicators are rolling over to the downside and will put a lot of pressure on this market to the downside.

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