SPX has cleared most of the obstacles to unfettered new highs.  USDJPY continues to perform contortions that only a central banker could love.  While, CL continues to be a potential drag.

continued for members… Note that it remains in backtest mode, having seen its rising purple channel break down last week.  I bring it up because SPX and ES are also in backtest mode.  ES rising white channel was backtested at the yellow arrow just prior to the Brexit selloff.  Another backtest awaits only a few points north of current prices.SPX pushed slightly back into its rising white channel, but of course the channel has a little leeway in how it’s drawn.  I’d start looking for a little pullback in here.  But, I wouldn’t get too excited about it.  They’re likely to hold off until at least the SMA10 clears the danger zone: probably at least 2125 or even 2138.  That way, any consolidation won’t damage its breakout status. GLTA.