If you look at today's chart, the Point & Figure chart of the Institutional Investor "core holdings" was showing optimism yesterday. (The "core holdings" as a group moved above an important resistance line.)
What could be important now is if the support line is re-tested and if it then holds.
So the answer to the "too good to be true" question lies in what happens now.
By the way ... we want to see the VIX hold below 13.30 on a closing basis today.