Bonds
Nice move down in bonds last week, now to see if they can keep it up through the end of next month and at least test the low from last year. The other point in time that is interesting is in late August, but I wouldn’t be surprised if that turns out to be a higher low.
Crude Oil
Crude is tricky as it is not clear at this point that the low of the [B] wave has been set and thus could easily see CL try to test 68.10 before bouncing back in [B] of v of ending diagonal (c).
Dollar Index
With the push over 102.70, odds that the wave [IV] or alternatively wave [I] low has been set and now early in wave [V] or [II] up. Overall expect DX to net advance into late August or early September.
Euro
Euro might hug the weekly 20 period EMA for another week or so before dropping away with force toward 1.0381.
Gold
Gold put in a pretty significant drop last week that is increasing the chances that gold has reversed lower. Next step for bears is to get GC to spend time under 1970.20 and 1924.65.
Russell 2000 Futures
I had a request to take a look at R2K so here we go. You can see that R2K has been quite weak over the last two months as it has barely bounced from the March low which in of itself a near retest of the 2022 lows. I think it likely that the Russell 2000 will break under the ledge later this year. I suppose one possible wave count is to treat the last two months of consolidation as a fourth that needs a wave five down to complete [c]. A somewhat more bearish count would treat the sideways formation as an extremely weak wave (ii) of [v]. I think the cycle composite implies similar timing to most of the other instruments which points to an interesting inflection point around August or so.
S&P 500
I think the big picture wave form is complete in SPX with the new high last week over the sideways consolidation that it has been in. On an intraday time frame, a minor new high this week could wrap this up.
Bitcoin Futures
Same basic idea as the equity indices, looking for a low later in the year around August or September.
Appreciate for the Russell analysis. Regards