The Week Ahead: 2021-08-01

Another month of new highs in the equity indices? Maybe initially but skeptical about them holding into the end of the month

Bonds

Is wave iv complete in bonds? All I can say is maybe. The RSI is overbought, the 32 week dominant cycle is cresting, and the 9-5 study at ‘8’ is one short of an exhaustion signal. All point to being stretched but I can’t rule out a minor new high while above 162^07 and 160^20.

Crude Oil

Last week crude extended the gains from the hammer doji candle f…