I'm not sure what to make of these two charts other than to couch the analysis in, "as-long-as" statements.
As long as nearby oil remains north of $45-$44.80 on a closing basis, all of the action since mid October is starting to resemble a potentially impressive accumulation/base pattern that points to a revisit of $50-$52. And as long as ES remains north of its Septeber 29 support line -- now at 2075.25 and its series of pullback lows at 2064.50 to 2052.00 -- the index is under bullish directional control, pointing next to 2125/40.
