Riding a bounce in oil and gas and the latest breakdown in VIX, S&P futures are up 2.25 this morning.  Nice blurb from Bill Blain on ZH this morning, echoing pretty closely what we’ve been saying for the past year or two.  Combine a market increasingly playing follow the leader (indexers, ETFs, algos, etc.) and central banks with all the tools necessary to keep the algos going, and you have to wonder: can anything stop the meltup?

continued for members…A backtest of 2500 is looking more and more remote.  Even the 1.618 backtest at 2534 is starting to look iffy.

DXY’s latest rising channel has broken down and is being backtested.

While CL approaches a .886 Fib at the white channel midline…

…and, RB continues to levitate.

The unabated increase in RB and CL are, no doubt, aiding GC in its meltup.Just a reminder…I’ll be on the road all week and posts will be limited to these morning blurbs.