The S&P 500 stay on plan with a retreat in a possible [B] wave. There was a bounce from a retest of the low from last Friday which might be an aggressive target for a [B] wave low but it is a negative to be under 4461 as the [B] could easily extend toward the 4432 to 4427 zone. Extended [B] wave targets at 4415 and 4398.
Bonds have also managed to stay on plan to push for a new swing low under that of August 4th in a possible wave [III]. Wave [III] could extend to 119^11 or 118^31 but not easy to be short at this point. Anyone that has been short should lower stops or otherwise manage.