Stocks have rallied to the top of the bullish $SPX channel. The top of the channel is at about 1410 currently, and the yearly highs are at 1420. So, that area is likely to provide some resistance for now.

Meanwhile, equity-only put-call ratios remain bullish. Market breadth indicators are on buy signals, having reversed negative signals from the previous week.

Volatility indicators have been the most steadily positive bullish factors. For one, the volatility indices ($VIX and $VXO) remain in steady downtrends.

In summary, the indicators remain bullish, and so we expect the market to continue advancing for the intermediate-term.

Lawrence G. McMillan is the author of two best selling books on options, including Options as a Strategic Investment, and also publishes several option trading newsletters.