The S&P didn't break resistance with any great fanfare and the move lacked volume, but a breakout is a breakout. Technicals are in good shape with bullish momentum particularly strong, and a three-month rising accumulation trend.

The Nasdaq is riding along channel support albeit close to a breakdown than a breakout. The MACD has flat-lined, although the last signal was a 'buy' trigger. The index is underperforming relative to the Russell 2000 which is a concern given how far behind the Russell 2000 is from marking new all-time highs.

Speaking of the Russell 2000, it managed a small base breakout but it hasn't cleared resistance of the June swing high. Trading volume was light, but technicals are net positive and while stochastics are not overbought they have held above the bullish mid-line. 

The Semiconductor Index did little today but it has the strongest breakout of the lead indices. Not surprisingly, technicals are net positive. 

While we have breakouts in indices I wouldn't call them substantial moves past resistance. Breakouts should occur with fanfare and what we have seen in the S&P and Russell 2000 wouldn't classify as such. These aren't the kind of moves which encourage buying but there is no reason not to hold existing positions.