sp'daily5
VIX'daily3
Summary
A new historic high of sp'2188, with Dow 18638.
VIX remains naturally pinned sub-teens. The key 20 threshold looks out of range until (at least) after the Labor day holiday (Sept 5th).
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WTIC, weekly
A powerful net daily gain of $2.52 (6.0%) to $44.23, as oil is making a play to re-take the weekly 10MA in the $45s. It could be argued that price structure since June has merely been a giant bull flag, with last week's spike floor low in the $39s.
Any price action in the $46s will be decisive enough to give confidence that the psy' level of $50 will also be re-taken. Any closes >$50 will be an early sign of $60 by early spring 2017. For the equity bulls, higher energy prices are only going to help 'inspire' the main market far... far higher.
Goodnight from London