My view in S&P 500 futures hasn’t changed from yesterday in that I still think it would look better with a new high over that of last week. Yes, I think this is getting overbought and ripe for at least a meaningful retrace but would like to see some overhead stops hit first. The drop post noon is certainly a short-term negative in that it retraced much of the gain today but am reluctant to pound the table for a truncation if 4556.00 is recovered. Not listed on chart, the next hurdle for bulls to clear over 4556.00 is 4560.50.
Crude on plan as it held the 74.65 support and popped up over 75.65. I would think that CL will at least test 77.60 now if not higher in the next wave up in [C] of ii.
Checking in on ZB, we see a minor new swing high today just under the 116^21 target. Good enough for [V] of a?