Midday Update: 2024-03-09

New high is S&P 500 futures in the morning

Bonds

I’m moving the wave ‘[I]’ low to the right and thus lean to a better bounce prior to moving lower in ‘c of (b)’. I suppose the alternative is that the bounce on the 7th was a very shallow ‘[II]’.

Still lean to a bounce before lower

Crude Oil

CL has pushed up into deep wave [II] territory today initially poking above 76.75 but slipping back to hug it a…