Risk Barometer Chart Update

a look at Crude Oil & the S&P 500, my Risk Barometers

Crude Oil has been extremely active this week...
Price Action approaching Confluence Zone around the 90.00 Figure.

a bounce from current vicinity (or 90.00) could signal that the abc Correction of the Larger DownTrend is still in progress. If a bounce does materialize, expect a re-test of the 100.00 Figure or at least the falling trend line (pink trend line in chart)

WTI Crude (Daily Chart)

On the other hand, the S&P500 is still looking very Bullish.
Price Action currently consolidating at previous Trend Resistance now turned Support (1,460)

a breakout targets the 1,500 figure and a breakdown could find support first @ 1,440 then 1,420, as shown in chart below.

S&P 500 (Daily Chart)