Bonds
The rising trend line held last week enabling a minor bounce. I don’t know if bonds begin to leak under the trend line now or if we have to wait till the next FOMC meeting on the 14th.
Crude Oil
Crude has been on plan with a bounce in the second phase of a [B] wave which will get an added boost on the OPEC+ news this weekend. I expect the advance to be relatively temporary with renewed selling in a few weeks.
Dollar Index
DX is doing well enough but could pause against 104.60 before breaking higher in at least wave [II] if now the preferred wave [V].
Euro
Euro bounced from 1.0631 support last week though I don’t expect it to hold for long. Expect an eventual drive under 1.0631 toward 1.0381 and possibly lower but may take a few weeks to get started.
Gold
Gold has started to leak under 1970.20 which is a good to see. Next confirmation that gold is moving lower in a major thrust is a break under 1924.65.
S&P 500
SPX pushed higher after filling the gap left in August of last year. I still think we are late in this advance as opposed to the start of a fresh leg up. I also find this an interesting point in time with a cycle inflection taking place. As for resistance, 4293 to 4320 should be important this week.
E-Mini Nasdaq 100 Futures
Of the major indexes, NQ has been leading the way up so I thought I should point out resistance to watch this week at 14634 and 14720.
Bitcoin Futures
BTC needs to drop under 26130 for confirmation that a wave (v) down is getting started.