To me it looks like a there is a trend reversal incoming, the SP is tightening at the lower range. This could signify a replication of the current trend in the opposite direction (upwards). I suspect another 2-4 weeks will lead this to tighten further, before the slow trend upwards will occur. Alternatively, we could see a break-out with a major announcement but I'd much rather a gradual trend reversal. See below for an example, please note this is not LWP'ss chart. Only my POV, I'm less experienced so I could be completely wrong.