With the rally last week, it seemed as if indices would rally to ATHs especially off the support TL that was hit on Wednesday. However, a seemingly intermediate-term bottom on EUR/USD means a falling dollar should send money out of the US markets and into Europe. I feel like this downtrend channel will hold and we're in for a decline leading into May. However, I don't think we'll be anything more than 10-15% rangebound. I'm short /ES right now.