Bonds
While I mentioned on the weekly chart posted last night that wave (a) could be counted complete on a large time frame, on the intraday, you can make a case for another swing up for a new swing high but not crystal clear. I’m inclined to allow ZB to push up while above 120^20 to either a new high or lower high this week. Next overhead resistance to push through is at 123^19.
Crude Oil
CL is down on news today but I’m reluctant to be in a hurry to call wave ii complete. Curious to see if 70.50 or 69.50 will hold as possible wave (II) of [C] of ii support.
Euro
Pretty decent drop in the Euro over the last week or so. I wonder if we could see a lower high develop later this week around 1.1074, the 62% retrace of the last swing.
Gold
Somewhat similar to Euro, I wonder if gold needs a bit of a bounce to form a lower high before dropping down through 2022.70. Overhead resistance at 2050.70 and 2069.80.
S&P 500 Futures
In the intraday chatgroup, I mentioned that I suspected we would see a gap up today which came out to be the case. I’m penciling this in as [C] of ii in progress. 4773.00 or 4778.50 look like good targets for later today.
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