S&P 500: Market at decision point between rally or mild pullback

If the "S&P 500" breaks above 2815, then the rally is going to continue strongly higher for months. But if the "S&P 500" declines and stays below 2725 until the end of August then there remains a risk of a large stock market crash.

• Short-term the market is oversold and could break out above 2800 or a little higher towards 2815.
  
• Mid-term the market is way too overbought. Therefore there is a risk of a pullback down to 2750 or lower.
  
• Long-term the market is neutral at a tipping point here. Due to this divergence between the short-term and mid-term trends.