S&P 500 futures rose per plan overnight and after a small stutter on the NFP, have been rising since. Futures have a resistance at 4140.75 that has stopped the advance just after 10am but a little short of resist in SPX. I think it best to have a minor bullish bias while above 4101 SPX to test 4135 or 4143 before thinking about a an extremely aggressive fade. The Adaptive CCI can rise a bit more before it tests the zero line. I’d like to see a lower high either late today or on Monday. The alternate is the low yesterday was a wave [IV] low and still need another swing high in the move up from March 13th.
Bears are trying to get a reversal going in bonds with the drop under 131^08. If I squint, there may be a completed impulse down from 132^19. Now need another lower high on a short time frame and thrust down under 129^12 to feel good about a reversal. Not shown on the chart, but typical small scale retrace targets at 131^12 and 132^01.
Crude also on plan with a bounce. Next resistances at 71.90 and 74.05 so a good idea to raise stops if long. I’m treating this as the first step up in a corrective [B] wave.
Nice drop in gold after 2037.45 failed as support. Need another push down under the low of the day to get a completed five waves down from the high.