On August 28th, the COMPQ hit its overhead trend line and the result was the index selling off considerably lasting a few days. It hit that same trend line today and then pulled back, but there was no obvious selloff. The index as I type this seems to be moving higher.
Oil is definately moving higher and going to test that $75 price line.
Somehow, I think we are going to hit 1120 on the S&P as a more long term target.