The S&P500 is trading at a key resistance level.
The price initially pushed strongly into 3000 but has failed to gain enough momentum to break through the level.
Monday was a small bearish day and Tuesday showed a small rally after rumors for a potential vaccine came up.
A breakout above the 3000 level will make the current pattern look like a buildup. When the price fails to break higher, the price may see another bearish correction into the range lows.
Sentiment feels more bullish and the Put-Call ratio is currently at a very low level which could further indicate bullishness. Bears certainly have a harder time.