S&P500 technical outlook

S&P500 is in what looks like an indecision zone. The current short-time trend is bearish, and the recent move up seems like a 50% retracement in a downtrend. However this move looks more like an impulsive one and the reaction to the 50EMA and the trendline looks like a corrective move, which could mean that this is the beginning of a new uptrend. The levels to watch are highlighted on the chart. Breaking above or below these levels would confirm the reversal or continuation of the trend. Considering the March Fed rate hike, the price could stay in this range until then.