Noticeably important is market breadth is very positive. The last time this many stocks were above their 20 day moving average ($MMTW chart below) was back in mid 2013. In 2011, $MMTW hit a low similar to the recent level and rocketed high up on the chart, similar to what is occurring now, This marked a the last significant low in the market. Could we be starting something so big right now?
In that instance back in 2011, the market traded negative to sideways for several weeks, before the it continued up. A bit of a break in the uptrend seems likely here also.
Today the SKEW moved up a bit, but not very exciting numbers around 125. $TRIN stayed low, around 0.74, but rose from yesterdays extreme low number. More grind higher may come tomorrow. A pullback next week, would set up a bullish options expiration week starting on the 14th.
