Futures point higher
S&P 500 futures are up 36 points to 4390 in a nice extension from the strong finish yesterday. An open here would break above the recent choppy range.
The catalyst so far has been a debt ceiling deal but the break in the energy fever could also be helping global stocks.
Seasonally, much was made of the weakness in the latter half of September that extends through the first week of October. That ends about now so it's a tailwind. I maintain that the seasonal pattern is a mirage due to the timing of Lehman Brothers and 9/11 but it worked this year so that's that.
A measured target from this range and a break above would be close to 4500.
