S&P500 hypotesis

It's just an hypotesis, especially the red downtrend channel I drawed joining the two minimum. But I see Wall Street flying, apparently pushed by the Fed, and the real economy going not so well. So I don't know if this bull market is just here to stay (then my hipotesys is clearly false), or if it is a reaction to the violent movement of march/april. Imagine it like an A-B-C movement ?
Of course it's just an hypotesis.