S&P 500 put in the low of the day near 10am and climbed steadily till it poked a new high. I think that is a candidate for five waves up from the October 27th low. I’m not expecting much this afternoon as the market moves into a holding pattern waiting for the CPI tomorrow morning. Could this swing extend? Sure, as long as SPX is above 4884, this swing could try for 4443 or even 4469.
ZB is still holding above the 112^08 support which isn’t surprising considering it is also likely just biding time till the CPI and PPI tomorrow and Wednesday.
Checking in on crude, CL pushed up through 76.70 but I’m unwilling to throw in the towel on a wave (IV). I think the form would look better with one more swing low before a better bounce.