First a programming note: While the markets are technically open on Monday with an early close, for practical reasons there won’t be many traders around. I might take a quick look at the markets but not expecting to post anything unless something really unusual happens till Tuesday evening when I will post weekly charts.
S&P 500 futures stay on theme with a rise into the July 4th holiday weekend. First target for a wave III hit around 10am, 4487.25, which resulted in a minor pullback to the first shallow retrace level of 4476.75. Since 4476.75 held, it made sense to see if bulls could retest the high which they have done at 4493.75. Is that it for wave III? Possible but fading third waves is a risky endeavor. Possible they chase stops and push for 4506.00 late in the day or on the shortened trade on Monday.
Crude pushed a little higher but is slowing down. Might be able to reach 71.30 or 72.20 by the middle of next week but probably a good idea to manage if you have been playing this bounce
Looks like gold is starting to bounce in a [B] wave as I suggested last night. Plenty of work to do still but a possible start.
I was hoping for a clean new low in ZB around 125^02 but I think I have to be content with a retest of the May low. I switched this chart over to line-on-close so you can easily see the retest and bounce from it. Probably best to assume a choppy bounce for at least a couple of weeks.