December E-mini S&Ps (ESZ14 +0.08%) this morning are up +0.08% and European stocks are up +0.79% at a 2-month high.

December E-mini S&Ps (ESZ14 +0.25%) this morning are up +0.25% and European stocks are up +0.41% ahead of U.S. economic data on Aug new home sales that are expected to post an increase.

September E-mini S&Ps (ESU14 -0.10%) this morning are down -0.11% and European stocks are down -0.90% as investors lighten up positions ahead of speeches later today from Fed Chair Yellen and ECB President Draghi at the Fed's annual symposium in Jackson Hole, Wyoming.

Facing formidable resistance and the threat of an ominous triple-top sell signal if bulls lost their battle, U.S. stocks appear to have successfully navigated a critical crossroads by finding the wherewithal to break out to new highs, with blue skies above.