Overshoot, back below, retest without breaking the down sloping trendline.. I usually don't have an opinion about the longer time frames, but besides last month's bullish candle, this doesn't look that bullish to me right now. Combine that with succesful daily bearish patterns on SP500 (Gartley) and DOW (Bat) and the fact that we didn't test the highs from before the down move in any of these indices. I don't know anything at all about the fundamentals, but from a technical perspective, I think it pays off to be cautious these days.
I would like to see a nice close above at least 11.000, before I would even think about new ATH's in the nearest future.