NEW YORK ( TheStreet) -- This week the market returns to trading on fundamentals. Investors are focused on earnings, and with the expectations that the Federal Reserve will end quantitative easing in September, sentiment will be determined by corporate performance.The first chart below is of Guggenheim S&P 500 Equal Weight ( RSP) over SPDR S&P 500 ( SPY). This pair represents market breadth, the number of stocks participating in index moves up and down. As equity markets reached record highs last week, this breadth indicator followed. That signals investors are adjusting positively to an economic environment without the Fed's bond-buying program. If earnings are better than expected, this pair will continue to move higher, which is bullish for equity indexes.