According to CryptoMichNL, oil has experienced a significant surge of 55% over the past 8 days but now appears to be reaching a peak. He suggests that a correction in oil prices could positively impact other markets, potentially leading to a recovery in indices after an initial red start. Additionally, Bitcoin is steadily gaining momentum, and if this upward trend continues, it could pave the way for a push toward $70,000 and possibly new all-time highs.

According to Trader_XO, there has been no momentum shift in the $ES and $SPX markets as of now. The trader mentions having no reason to switch from long positions just yet, indicating a continued bullish outlook on these indices.