Check tag for prior versions. Noise in this data but reporting from WSJ.

Increase in earnings estimates from last week; SPX forward p/e at 17.75, only up .24 from last week's 17.51 with a jump in price. SPX total earnings per "share" were near 117 late April to mid May have jumped to above 118.

So for now 17x support 2010 and potential 18x resistance at 2128. This is only a few points from the all time high and seems very doable. I still think unlikely that smart $ will pay above 18x forward earnings especially with election and FOMC uncertainty, but if 18x is about at the high then the market can test and pop all the stops up there too.

Yardeni's report of the Citigroup Economic Surprise index also poked up. This could be noise or start of an improving trend; hard to tell right now. Follow through into positive territory would be very bullish if that happens.