If you provide no license, then all restrictions come from copyright law.
IANAL, but this is how I understand US law. If you want legal advice you can rely on, find somebody competent to give it in the jurisdiction you're interested in.
It is possible for the copyright holder or licensee (if permitted by the license) to distribute copies. Therefore, if I have code with no license, put it on a web site, and say "Feel free to download this", you may download it.
Once downloaded legitimately, you have a legal copy. You can make one backup copy, and use it as you like. You can run it, since US copyright law allows all copies necessary to run legally acquired software. You can, I believe, modify it for your own use (I can modify books I buy, after all). You can transfer your copy to another person, provided you don't keep a copy on your own. You can't legally run your copy on more than one machine at a time (although "machine" may be legally fuzzy here).
I don't know if you could keep downloading copies and selling them; ask a lawyer.
You would also have all "fair use" rights, but those are fairly limited, and apply on a case-by-case basis.
If you don't want people to use your software, don't offer it to them. If you do want them to, come up with a license. An OSI-certified Open Source license has the advantage that it's been vetted for problems, and there's a general understanding of what it means.