Bulls have regained their footing and recruited some reinforcements, as the S&P 500 on Wednesday powered right through its 5.5-year intraday high of 1576 on increased trading volume to set a new record of 1589.

For most of 2013 thus far, the market has been on a steady rise without volatility within a narrow channel. Bulls have been looking to recruit reinforcements for their assault on the all-time highs on the S&P 500 large caps and Dow Jones blue chips, after already taking out the all-time highs on the Russell 2000 small caps and S&P 400 mid caps.