All things considered, we'll probably break to a new index high (at least for the Sp') next week, somewhere in the 1430/40 area seems very reasonable.
sp'daily5
vix'daily
Summary
So, up we go...and its nice to see my 'best guess' turn out correct.
My next guess is that we'll level out this new up cycle around next Wednesday. Interestingly, that is when the German court will rule. I will be hitting buttons next week, that's for sure.
What is clear, no one should be re-shorting yet, there is very likely going to be some serious follow through to this opening gap..
As I like to say, the patient bear..is the successful bear.
More later at 12pm.