Trend is definitely good, but I'd add here that the jackup market is totally different than the floater market. Jackup dayrates tend to vary widely based on spec and location. I don't think this necessarily extrapolates to the rest of the marketplace. Also, jackups only make up a relatively small portion of SDRL's backlog.
"Wake me up" when SDRL signs a new floater contract at a better than recent dayrate. That would be the most significant single indicator of an offshore turnaround, I think.
Actually, you won't have to, because the ensuing jump in the stock price will do that for you.
At this point, I think any increase in backlog would be good.