Buyers stepped in on a retest of the higher low from last Friday and kept at it into just before noon. I’m assuming that the low from last Friday was wave i and now up in [A] of ii. Initial target for [A] has been met but willing to let them try for a bit more, say 4495 later in the day. However, higher is not a guarantee as the pattern for the last few days has been morning bounce followed by afternoon weakness. I think there is a chance to break that streak but again, not a sure thing.
Bonds trying to stay on track as they did move lower today though firming up before making a new swing low. I’m inclined to give bears a chance while under 121^17.
Not much to say regarding CL today. Under 82.70 is a negative and the short-term pattern down doesn’t look complete so bias is down.