I think the breakout may well fail but until it does there is a bullish gann setup based on thursdays HL on the 100% resistance level (now support).Cycles ,momentum,vix,dollar etc not supportive in my view but it is what it is until it isn't   ! Breaking back below red line would be a sell signal I think

 

  

Looking at the SPY chart we could push higher but looks like an ending diagonal/rising wedge pattern so bulls need close stops !