$SPX has not made new highs (yet), but it has broken out above the 20-day moving average, the downtrend line from the highs, and the short-term resistance that had developed in the 1300-1320 area.





Equity-only put-call ratios have rolled back over to buy signals, which is a very significant positive intermediate-term development.




Breadth oscillators -- which are the most sensitive indicator of this group -- turned to buy signals over a week ago, and have remained on those buy signals ever since.




The trend of $VIX is back to being sideways-to-down, which is bullish for stocks in general.




In summary, the major indicators are all back on buy signals, and that constitutes an intermediate-term buy signal for the stock market.

Lawrence G. McMillan is the author of two best selling books on options, including Options as a Strategic Investment, recognized as essential resources for any serious option trader's library.