Red light on power box for my xbox 360 slim?

i have an xbox 360 S (the newer model) and it wont turn on. i plug everything in after unplugging everything and the light on the big power box thing is orange but when i try turning the xbox on, it turns to red and doesnt turn on. i looked on the back of the power box and it says red is fault alarm...? is this fixable? or do i have to buy a new xbox? or maybe just a new ac adapter/power box thing?