A lot of tech is still red with GOOG AMZN BIDU BRCM SOHU all negative as we write this. What kind of break-out is this? Not to mention IYR has been negative all day, and GS has been going in and out of the red zone all day.
A low-volume commodity led rally without tech participating is not a healthy break-out.
A couple of things would get us more bullish: a strong close today, and most importantly, tech participating tomorrow.
But for now all we can say is Meh.