Midday Update: 2024-04-08

Choppy range bound action in equities

Bonds

ZB is down today but does have positive divergence on the CCI and the RSI is pulled back to an oversold level. I’m tentatively calling this a (B) wave in a developing wave [II]. Another possible form would pull the wave [I] low over to the right to this low.

Allowing for another try at a bounce

Crude Oil

I have been expecting a retrace to get started …