Bonds
Bonds stayed on plan today by dropping away from 153^13 toward support at 151^24. I’d like that or 151^00 to be tested to finish off wave (I).
Crude Oil
CL tested 94.40 today which is a decent candidate for the end of ‘a of (a) of [ii]’ though while under 100.00 it could extend just under to 91.00 or even 84.40. The ideal cycle low is on March 18th.
Dollar Index
Very little to add to commentary on DX as it didn’t move much today. Under 98.90 should enable the next leg down in wave (II) or [II] to get started.
Euro
Not much to add to the Euro analysis as well. It did pop up briefly to just under 1.1067 before falling back to 1.0980. Basing above 1.0980 would be a minor positive for higher.
Gold
Gold pressed under the moving averages to just above next support at 1901.80. While under 1937.45 gold could still extend a little lower to 1901.80 or 1879.30.
S&P 500
SPX did rise today but in a slightly different way than expected. I thought it would look like three waves but instead looks more like an impulse up. What could that mean? I have two ideas.
The first is to treat the morning low as [B] in a wave iv that is now rising in [C] of iv. This can allow a thrust up tomorrow morning toward 4349 if they base above 4282.
The other idea is that wave (B) is developing as a triangle that is currently working on wave e. The classic triangle forms in a converging range but can come out of the converging trend lines as long as it stays above point d in this case and ends under point c. First target that looks to be tested on Wednesday morning is 4304 followed by 4342.