Notice on the chart that my two favorite EMA's in this time frame are pointing up, and this is what I've been waiting for, some directional sign. We got that today and I'm expecting that the EMA's as well as SPY/$SPX to begin another leg up from here. Well, I'm not completely convinced of this but I'm going with that until proven otherwise.
With a couple of exceptions, which I referred to in my original post, most breadth indicators are giving neutral readings right now. That could change at any time. I'm watching Zweig Breadth Thrust for a reading over 60 and I'm watching the 5EMA on the $VIX daily for a reading around 12.5. If we should get readings like that from these two on the same day, then I'd start being very careful and be on the watch for some corrective action.