SPX opened above the August 14th, 2022, close and ran up to the next target at 4322 which was followed by a fairly rapid loss of the overnight and early morning gain. I think odds favor a lower high in the afternoon today and an attempt to move lower to test 4284 or 4280 though we might see that low on Monday morning. Worth noting there are momentum divergences on the morning high.
A minor negative that CL is held back by 71.70 this morning but bulls can fix this early next week if they hold above 70.10.
Checking in on bonds, ZB is holding and trying to climb which is consistent with the idea put forth last night that wave [IV] is becoming more complex.
Have a good weekend!