It's physical light, because it brought about a physical day. At this point it was the light of heaven - the glory cloud - shining directly into the Creation, onto the "face" of the deep, with no "Mosaic" veil in between (just pointing out how this physical event founds ethical events later on).
This light is the "head" and the governing lights are the "body." We see the same thing in the last book, where Jesus is the light and the church pastors, as His body, are a "de-centralized" bridal lampstand.
The Creation week aligns with the Tabernacle furniture. The tent, and later the Temple, are a miniature cosmos. The seven days also align with the seven feasts in Lev. 23, and the process of the ascension offering in Lev 1, where blood makes everything new. This explains the "uncovering" language in various prophecies - and Moses' "dividing the waters." Removing the veil puts us face-to-face with the Law of God. And atonement literally means "coverings." The Creation week undergirds the entire Bible at many levels.
CREATION Day 1 - Light - Ark - Sabbath - Genesis (week sets the pattern for the entire process)
DIVISION Day 2 - Waters - Veil - Passover - Exodus
ASCENSION Day 3 - Land, Grain & Fruit - Altar & Table - Firstfruits - Leviticus
TESTING Day 4 - Ruling Lights - Lampstand - Pentecost - Numbers
MATURITY Day 5 - Swarms/Clouds - Incense - Trumpets - Deuteronomy
CONQUEST Day 6 - Mediators: Animals & Man - Sacrifices & High Priest - Atonement - Joshua
GLORIFICATION Day 7 - Rest - Shekinah - Booths - Judges
I know Judges is a book about failures, but the point of this process is to make holy representatives, "elohim," those who judge rightly between light and darkness as God does. In the festal process, it ends with Booths, Israel as a tree of righteousness sheltering the nations.
This pattern is found throughout the entire Bible. For instance:
1 - Joseph is the righteous son
2 - He is "robed" by his father
3 - He dreams of firstfruits sheaves
4 - He dreams of sun, moon and stars
5 - His brothers unite against him (Trumpets)
6 - His robe is torn and bloodied
7 - He is given to Gentiles
So Joseph is a "new creation." This also explains the "new heaven and new earth" language used to describe a new Covenant.
You can see that the process is also chiastic. 2 is the giving of the robe of office and 6 is its removal. This is replicated in the ministry of Jesus at many levels.
Finally, what is really interesting is that the entire Bible follows the same structure. The New Testament completes it. To disregard the New Testament is leave the "week" incomplete.