Bonds
ZB up a little but nothing to get overly excited about as it appears to be in a holding pattern till the FOMC meeting. As I mentioned last week, I’m starting to warm up to the alternate count that has wave ‘b’ set and already down in the early stages of ‘c of (b)’.
Crude Oil
CL pushed to a new swing high in the European morning but has been drifting lower since. I’m giving bulls one more chance to test 79.00 while above 76.14 but late in the development of wave ii. Net, a little late to buy easily, a little too early to sell easily.
Euro
Euro has been heavy of late, but I still hesitate to pound the table for an acceleration lower prior to a bit better bounce. Maybe this is a leading diagonal down from the late December high which would allow a small bounce. The alternative is a 1-2-1-2 type count that would put the Euro on the verge of accelerating lower soon.
Gold
I’m not confident in my short-term gold count. The high today was near the top of the range it has been in for the last week or so. If it starts to spend time under ~2020.00, the bears may start to push GC down out of the range. I’m still using the February contract today but will roll the chart to April this evening.
S&P 500 Futures
Not much to say today as the S&P 500 futures have a slight drift up. Over 4922.75 invites a push to retest 4928.00 but advise caution as I think it is probably just waiting for info to trade off from later in the week.
Here is a bonus chart of the Nasdaq 100 futures from my intraday workspace. On this 15-minute chart, you can see how some geometry has held as the low today an NQ is now testing the first resistance around 17605. If they start to base over that, next approximate target is 17655.