Bonds
ZB is bouncing today and pushing up into key resistance if my aggressive near-term count is active. The alternate I think would be to treat the recent low as ‘[I] of c of (b)’. The aggressively bullish alternate is to treat the ‘(b)’ wave complete.
Crude Oil
CL put in a tiny new swing high today before a drop down toward initial support at 76.95 and roughly the 20 period EMA on the 240-minute chart. This could be an aggressive end of the wave ‘ii’ with the momentum divergence however bears can’t be complacent while CL is above 76.05.
Euro
I’m not sure that I am dialed into the short-term count in Euro, but suffice to say, I think retraces are probably shallow.
Gold
GC is bouncing a little after the swoon from yesterday. Initial resistance at 2008.60 and later 2015.45 if this bounce is a low degree fourth.
S&P 500 Futures
I was looking for a modest retrace after the runup overnight and into the day session morning. Sure enough, there was a drop into about noon that almost filled the gap. Was that good enough? I’m not sure. On one hand, the support area, the gap fill, is a pretty good spot in price. On the other hand, the microstructure of the low isn’t ideal so can’t rule out a retest of support later in the day. I’d say odds swing into the bulls favor if S&P 500 futures begin to spend time above 4996.50.