I think I’ll start with the S&P 500 futures chart I posted for the intraday subscribers last night. 4030.50 has been acting as a cap but bears have yet to break the bottom of the overnight range. Even if they do, bears need to push under 3983.25 to begin to take back control.
Here is a peek at a 15-min NQ chart from my intraday workspace. NQ moved steadily lower after testing geometric resist around 10am dragging S&P 500 futures down with it. NQ now is not far from the low from last Friday so may try a bit of bounce.
Contrast that to YM which has been doing a pretty good job at holding the overnight rise. The RSI and cycle suggest a lower high is possible this afternoon. We will see. Again, these are 15-minute candles.
Elsewhere, bonds are soft today as they move down from a possible lower high and thus in a low degree third wave. Under 130^13 invites acceleration toward 128^20 or 127^11.
Gold is following bonds lower and also may have a lower high set from which bears can build from. Bears hope to push GC down away from 1958.20 toward 1928.10 or 1907.30.