All systems are in bullish modes at this time. $SPX has broken out to new all-time highs, finally catching up to The Dow, Th Russell 2000, the Value Line Composite, and the NASDAQ Composite, which had already done so. There is support in the 2180 area.

Equity-only put-call ratios are on buy signals, as is the Total put-call ratio. These are not strong buy signals, by historic measurements, but suffice for now.

Breadth has been very strong on this rally, and with today's action, cumulative "stocks only" breadth has made a new all-time high as well. This is important confirmation. Both breadth oscillators are on buy signals.

Volatility indices have remained subdued. Thus the $VIX buy signals are still in place. As long as $VIX is at these low levels, stocks can continue to rise.

In summary, all of the systems have been bullish, and now $SPX has confirmed by breaking out to new all-time highs. Furthermore, this is a bullish seasonal period, so that should help as well.

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