You can see from the graphs that the $RUT has a lot of room to run...so only the $SPX is somewhat trendline constrained, but it does have higher trendlines to go up to...so the rally is probably real, up to a point...
The top graph shows the trendline that has produced the bottoms in this index. Clearly the wedge that's forming is being driven by the internal math of these waves...it's not random....Now which trendline does it go up to? Probably the $SPX will hit it's higher trendlines at the same time...
By the way, here is the similar buy signal for the $RUT:
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