SPX Momentum Fading?

Semi-monthly returns are the highest since March 31. Upward momentum has been strong, but it's looking like it could fade and the price could possibly retest 4000 where either support or resistance will be established. Sentiment is so mixed at the moment that I am fairly certain this will play out. Just look around at the severe contrast in sentiment. People are betting their portfolio on this hinge and it's not clear who is correct, or if anyone is correct. Lately, one could trade either direction and they would have a chance to take profit within the next few weeks or month. The question is, will bearish sentiment linger on or will we get a huge fakeout to the upside? It's a hard question to answer, but if we monitor DXY and commodities we will be able to see some hints in the next week or two.

Good luck and don't forget to hedge your bets!