Bonds
ZB fell today to retest the low from the 14th. I’m still inclined to allow for a bounce into next week. First confirmation of higher is recovering 118^09 and better when over 119^00.
Crude Oil
CL managed to coast up to the next target of 79.35 today. I think it a good idea to manage long trades in this area. Can I rule out higher? No, but neither can I guarantee it. First sign that bears are trying to exert control is a drop under 78.30.
Euro
Since the Euro is starting to push through 1.0790, best to allow a test of 1.0835 early next week.
Gold
GC rising as well today. Next step up at 2033.00.
S&P 500 Futures
S&P 500 futures had climbed in the early morning but began to fall as the European morning progressed. That decline accelerated on the PPI number this morning which had follow-through lower into 10am. However, that decline held above 5009.50 which makes me think it was another low degree correction in the form up from the February 13th low. The decline in Dow futures was pretty tame as well though Nasdaq 100 futures were pretty soft which might be an early warning sign of things to come, will have to see what they look like next week. Base case is a new high in the S&P 500 next week, but we are very late in the structure and thus things can go wrong.
Monday is a US holiday, so enjoy the three-day weekend.