The underlying pressure to the upside continues, with the Dow, R2K, and SP'500 breaking new historic highs. VIX looks set to close in the 12s, for the first time in 8 weeks. Precious metals and Oil are both holding significant gains, with the USD moderately higher.
sp'daily5
VIX'daily3
Summary
Bulls remain in total control, and sp'1700s are just a matter of days..or hours away.
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*I have a 'scary thought'...what if the entire move from 1560 to the present, is merely a sub'1 of wave'5 ?
I have seen a few out there who are looking for upper 1700s/1800s before the next drop.
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I'm guessing no though, hence the count on the daily chart, assuming sub'4 was just complete yesterday.
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For the bears, another week..or so to wait.