It certainly looked like a breakout, at least for today, but it would have been more convincing if the volumes had not remained thin. As such it looked like a short squeeze engineered by the wiseguys ahead of the FOMC meeting.
SP 500
NDX
"The problem with movies and books is they make evil look glamorous, exciting, when it's no such thing. It's boring and it's depressing and it's stupid. Criminals are all after cheap thrills and easy money, and when they get them, all they want is more of the same, over and over. They're shallow, empty, boring people who couldn't give you five minutes of interesting conversation. Maybe some can be monkey-clever, some of the time, but they aren't hardly ever smart."
Dean Koontz