S&P 500 futures are pointing to a 4-5 point gain at the open, which will breach the 1375 high from early July.
The level was briefly taken out midway through trading yesterday but stronger move through resistance would confirm it.
Technically, that points to a retest of the 1405/20 annual highs from early in the year. Beyond that, I have a hard time envisioning stocks rising further with yields near record lows and the economy slowing.
In any case, the rally in stocks confirms the jump in AUD/USD.
