S&P 500 up this morning on the NFP numbers where it has pushed up into the next series of overhead gaps from last August. I can’t see chasing it up from here but probably a bad idea to seriously consider a short till SPX is back under 4264.
Crude on plan rising again today with the high of the day just short of the next overhead target of 72.30. Tricky as there might be five waves up from the low this week which is all that is required for wave (C) of [B] to be complete. However, using (A) to (C) relationships targets 73.20 minimum, thus may find a way to hold up into early next week.
I mentioned in my last post that perhaps we get a strong NFP number to take bonds down from the 129^10 resist and that is what took place. I’m penciling this in as early in wave [V] of iii down.
Have a good weekend.