Bonds
ZB has tested the first target for a wave [II] at 121^11 today and is slipping back away from it. Next major move will come after the FOMC statement tomorrow afternoon. If the alternate count is operative, it suggests the Fed will be hawkish tomorrow.
Crude Oil
CL probed the must hold support at 76.14 and bounced hard. Now looking for a new high to that of yesterday to complete the form for [C] of ii.
Euro
Not much to say about the Euro as it bides time in the recent range. I’m certainly not confident that there will be more of a bounce though I do prefer it.
Gold
Gold spiked up to near the overhead target of 2051.50 before falling back into the range. This might be enough for a low degree wave (II). Bears need GC to drop under 2046.80 for confirmation of a reversal lower.
S&P 500 Futures
Today is playing pretty much as expected. Some retrace in the morning into early afternoon followed by a bounce. S&P 500 futures have been sideways where the bulk of the retrace was in the Nasdaq 100 futures.