S&P 500 is still trading bullish, now in final stages of a bigger blue wave five. We can see former sub-wave 4) of five completed at the 2555 level, which means current intra-day structure can be part of sub-wave 5 of five and can extend its recovery towards the 2620 region and there reverse lower. A minor drop in five-waves would confirm a top in place and a three-wave reversal to follow.

S&P 500, 4H

(Click on image to enlarge)