SPY monthly - 5/6/2015

Here is how it looks now. Some observations:

1. MACD has been negative since this January.
2. RSI has been weakening since this January.
3. price is right above the red trend line.

Several things to watch for this May:

1. breakage of the main trend line?
2. price down below 10 month MA?
3. RSI down below the red line?
4. worsening MACD?