Bonds
Not much real change last week in bonds as it drifts sideways to lower. Bears need to see ZB spend time under 130^10 to get a possible wave (v) down started. Primary hypothesis is that ZB finds a way lower into either the next composite cycle inflection in early July or the Fibonacci time projection into late August.
Crude Oil
Where bonds were uneventful, CL was quite active where it fell to briefly make a new low under that of March before bouncing back into the range. I’m treating that drop as [A] of v of ending diagonal (c). Now we should allow a few weeks of bounce in wave [B].
Dollar Index
DX pretty much stayed in the range of the week before last week. Looking like the swing lows will get tested again around 100.60 and maybe even a new low at 100.10.
Euro
Euro put in a doji candle last week with the wicks testing the prior high and the low support at 1.0993. With the negative divergence on the Adaptive CCI, there is a chance that we get a break lower this week. What argues against that is the next cycle inflection is a week away.
Gold
Impressive rejection of 2068.10 last week in gold. Will see if we can get a lower high and an eventual drop under 1970.20 for confirmation of a reversal lower.
S&P 500
SPX made an attempt to drop last week but held the low from the week before. I’m not excited about the prospects for high at this point but can’t rule out a push for 4195 or even 4232.
Bitcoin Futures
BTC still traveling sideways under 30970. Reasonable chance that wave (iv) is set but needs a drop under 26130 for confirmation of a reversal.