It wasn’t until last night the Spoo 25X3 backed more than 23 points since Oct 7.
Spoo 3500 print is needed to relive upside pressure on the 50X3.
The 100X3 gives a better view of the top of value @ 3564 matching up with the year high and ole target of 3572.
The risk spreads are more revealing of where we are in the rally.
When the qtr started I wrote about the similarity of the setup for a rally in the Spoo’s based on 2017 4th qtr.
Despite a headline break 10/6, this scenario is playing out.