I was referring to the close connection between the euro and $SPX that you pointed at during numerous times. Probably done through hedges, like those between the $USD and gold (when one moves, so does the other). We saw a move down in FXE without a corresponding move down in $SPX. My inference is that someone was buying $SPX to prevent its from breaking down. My logic is that this cannot be done for too long, and when FXE moves down enough, the $SPX will follow.

I see no fundamental reason for $SPX to go up at this time to make a new high. If it does, I am not seeing the full picture then. For what it is worth.