If the market can hold these gains through the close, I would take that as a short-term bullish sign. Utilities sector still leading. I would like to see that shift to discretionary or materials. The S&P bounced off of 1988/1989 twice so far this month. If it tests that level a third time, there will be no bounce. So far the bounce is holding. The last hour of trading will be a good tell to the underlying strength in the market.