I have been waiting for the new trend(s) to become evident since the old multiyear trend was busted in March ala 2008. What typically happens is a widening megaphone trend is followed by a narrowing one, which is what I would expect to see. Note you can obviously have a rising index and a declining overall MACD as we have seen since June. The value in finding the trend line is knowing when the sharp turns will occur like an invisible dog fence.
Now what I have at this point is quite speculative and only the primary resistance line is possibly shaping up - I note there could be also a minor support line running parallel to the resistance line which may show where this could turn up again.