Bonds
ZB declined again last week. The RSI is starting to approach oversold and the Lomb Periodogram is forecasting a local cycle low nearby. I wouldn’t be surprised by a small bounce but think we eventually get a new low to that of last year.
Crude Oil
Crude probed the lower end of the range it has been stuck in for the last three months before bouncing back a bit. Fully expect an eventual break lower out of this range in the next few weeks.
Dollar Index
While I have every expectation that DX will eventually grind higher, it may pause around 105.53 or 106.45.
Euro
Euro also appears to be in a location where it can pause, in this case 1.0563 and the January low. While I think there is a very good chance that Euro will make an eventual new low, even if I’m wrong and this is only a wave [ii] retrace, it likely will retrace lower over the next several months. Overhead resistance at 1.0692.
Gold
Gold broke under 1845 last week and is now stretching for 1801. So far there hasn’t been much of a bounce in the decline and think one is overdue.
S&P 500
Nice drop in SPX last week so as to test the late January low. The next support zone should be around 3850 and the December lows from last year. On lower time frame charts, I would like a bounce before pushing for 3850 and beyond.
Bitcoin Futures
BTC is starting to respond to the resistance at 25760. Spending time under 23150 would increase the chance that wave (iv) is set and working on wave (v) down.