Perhaps it was the Tesla sales miss after hours, or perhaps the comments by San Francisco Fed President John Williams that "it's not obvious that the stock market is overvalued," but futures really liked something last night.
Maybe they were feeling Clinton-era giddiness based on Terry McAuliffe's win in Virginia, a former Clinton machine campaign fundraiser. Who knows.
Whatever, futures liked something. The cash S&P should open around 1770. At yesterday's low a complex sideways pattern may have completed, and now there could be a strong thrust higher (to new highs).
Or, the overnight thrust will equal to yesterday's thrust and will terminate (and reverse) sometime this morning.
Both are valid. For now it's wait and see.
Regarding Tesla, there is a Fib extension target at 135.40 if 153 breaks on volume.
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