The important part is the the SPX did break above the channel line, closed underneath the 20 day MA, and never made a higher high(1207.43). Given that, the downtrend is in severe jeopardy and any follow-thru tomorrow will likely confirm that.
The most interesting part was that the Breadth and volume numbers were lower then earlier in the week, with Breadth closing at 4.3:1, advancers on 1.2B shares traded with 86.37% of those shares coming in as buy volume. A strong day, but not yet as strong as Tuesday's numbers.
And poor GM, closed at $34.19.