Stocks ain’t got time for coronavirus, trade tensions with China, or riots and civil unrest in the United States. The S&P has broken out from an inverse head and shoulders pattern and solidly established new monthly highs. This is most likely the beginning of a new Elliott Wave impulse.
Both Kovach momentum indicators are very bullish at this point, so wait for a squeeze before open. This risk on sentiment seems to be off earnings and upgrade ratings. Oil traders seem exuberant over an OPEC+ output cut extension which won’t hurt either.