For the past year, Oil has been THE MOST IMPORTANT PRICE DRIVER for stocks! For that, it's important to review the impact that the OPEC deal has on prices and what's to come.

Around 8/25 when Crude Oil was about this level (48ish), I drew the orange circle to show the potential that was brewing.
Now, we are back to the same situation.

- The potential: Look at the yellow ascending dashed line. This shows the exact size of prior big rallies of late.
Late august that was the potential but oil failed badly.
NOW we are back to it with the same upside potential.

My thoughts:
* 9/28 OPEC deal was THE PERFECT HEADLINE for the bulls. So now the onus is on the bulls to live up to it.
* I don't believe that they will implement it as announced on 9/29. We already see bickering from their members.
* This deal was the first since 2008 so it was "A BIG DEAL" yet oil still is under that Aug level. Sure it could still
get there but... I thought it would simply blow buy it. Rally may still be unfolding.

Look at the highlights I place in RED CRAYON: