Bonds
ZB slipped lower yet again last week which is consistent with the wave (v) hypothesis but has reached a trend line and may pause or bounce back a bit before breaking lower toward a test of the low of last year.
Crude Oil
Not clear the [B] wave is complete in CL thus might still get a minor high over that of next week prior to dropping down in [C] of v of ending diagonal (c).
Dollar Index
Pretty happy with how well DX has been performing over the past couple of weeks. I think this bodes ill for the equity indices before long.
Euro
Likewise, Euro making good progress on falling away from the double top as it fell through the 20 period EMA last week. Next minor support at 1.0631.
Gold
And also happy with how gold is doing with the drop under 1970.20 last week. Last retrace value to beat is lower at 1924.65.
S&P 500
So far, the gap from last August remains open in SPX. My thesis of late has been a “buy the rumor, sell the news” type idea that the equity indices rise till the debt ceiling is a done deal. That probably puts the gap fill at 4245 in play this week. Curious that both of the dominant cycles have inflection points this week.
Bitcoin Futures
While the case for a wave (iv) in BTC has improved, it isn’t confirmed that wave (v) down has started until BTC breaks under 26130.