S&P 500 Futures
While expected a retrace lower this morning, I admit that I thought they wouldn’t make it to a gap fill. I favor ES basing above the gap fill and grinding up. Of course, geopolitical new can get in the way.
Crude Oil
CL soft today which is not what CL bulls were expecting today but in line with the forecast for a fourth wave. Next supports at 83.75 and 82.70.
Bonds
ZB leaking lower today. I’d like ZB to find a way down into the 111 handle but might get a consolidation first. Next support at 113^20.
Euro
I’m leaning to the alternate count where Euro bounces before making another serious push lower but even if this is (I) or [I] down from the April 9th high, some bounce is in order before lower. Really not that much difference other than how deep the bounce will go.
Gold
It is no secret that I am a skeptic of the gold rise and think there should be a retrace so I’m happy to see gold soft today. Maybe bears can push for 2317.10 before firming up.