Back to uptrend support line... as stock market in a slow grinding move up

From last post, the SP500 didn't quite move down to the 2060 level or lower. Instead it got down to 2068 and then turned back up and did set a new all time high of 2134. During that time, much of the individual stocks were consolidating their moves instead of joining the major indexes higher. That hinted the upside was limited... and as such the major indexes have moved down this past week while much of the individual stocks continued to consolidate at current price levels. This also could hint the downside is limited. As the chart illustrated below, the SP500 is back down to an uptrend support line. If the stock market can hold at current levels then another rally back higher could be in the cards. But if the support level is breached then the upside trend could be broken for more consolidation or downside for the short term.