I will answer that. SPX ran up 60 points on good volume taking out all the resistances. Than it gets overbought and starts trailing down on low volumes and make a tight nice BULL FLAG. Now this is a well known bullish chart pattern in Technical Analysis , which more likely will result in a breakout to the upside taking out 1400 levels and set the ink on Bull Markets.
BULL Markets? Not so fast, I do agree the S&P daily chart looks very bullish, but when VIX touches the zero line, that's where start building my short positions. patiences.. patience...
Fundamentals only show up on weekly and monthly charts. You won't see them in the 60 minute or daily charts.