SPX pulled back in May, and is currently near major resistance once again. Upside is capped by the horizontal resistance that extends back more than a year.
The horizontal white resistance is likely to be tested in June with a high forecast June 17th. July looks particularly negative.
2016 Crash Model:
XIV consolidated during the month of May, and has cleared double resistance. XIV should see a pullback this week, but further upside is likely in June as it works it's way towards upper fork resistance.
The larger, longer term trend remains down!