Bonds
ZB poked up to test 122^07 before falling back to 121^17. Falling back under 121^17 would be ideal on Friday though under 120^21 is needed to feel good about a reversal.
Crude Oil
Not sure the current lower high will hold. Bears need CL under 78.20 for first evidence that the wave ii high has been set.
Dollar Index
DX dropped under 103.20 today. I’m thinking this may be a wave ii in development. Note that there is a cycle low projected on Monday so might see 102.50 tested.
Euro
I’m changing my wave count in Euro to treating the move down from late December to February as a wave ‘i’, and the bounce as wave ‘ii’. 1.0943 is a 50% retracement, the minimum for a typical wave two. Note that Euro is on a projected cycle high now.
Gold
I still don’t have high confidence in my wave count in gold. The advance from the October low doesn’t really look very impulsive so I’m not a big fan of treating this as a wave [v] in progress. Overhead resistance at 2178.25 and 2187.50.
S&P 500
S&P 500 pushed a new high today which was a little faster than I expected.
So far, only looks like three waves up from the March 5th low. I’m treating the high in the afternoon today as a low degree wave three and thus think we see a fourth wave consolidation on Friday morning.