The U.S. stock indexes have seen a return to higher volatility this week. See on the daily bar chart for the June e-mini S&P futures that prices are in a choppy downtrend. The higher volatility still favors the bearish camp. See the support and resistance lines on the chart. These are major technical levels. Prices are likely to chop between these levels in the near term. However, a push above the resistance line would suggest a challenge of the high scored in January, and even above. A drop below the support line would suggest still more downside price pressure in the coming weeks, or longer. My bias is still that the S&P 500 stock index has put in a major top. Stay tuned!