The question is whether this move will be up or down? To find some kind of an answer - look at another chart:
The chart shows net positions held by speculators in VIX. VIX measures the volatility of the stock market. Generally, VIX is adversely correlated with the index value - if index goes down, VIX goes up. And vice versa.
The chart shows that whenever speculators are net long-VIX, i.e. they bet on the index going down, a good buying opportunity is approaching. This was the case in October 2014, February 2015 and in September 2015. Currently speculators are still net short-VIX, which means that it is not time to buy stocks.
Summarizing - looking at those two charts, it seems that we will see the US stock market going down in the short-term.