Until an attacker comes and "parks" in front of the red light blocking all the traffic. There is no legal obligation to keep moving.
So yes, there probably is a legal obligation to keep moving. If you went there and stood in front of the light for an hour a friendly but stern police officer will — legally, and within his mandate — instruct you to move along.
In case anyone is unfamiliar with the concept of public nuisance as a crime. It's pretty simple, "things that cause significant enough trouble for other people". Its the common sense escape hatch option for law enforcement being unable to see any other crime.