Bonds
Bonds broke the rising trend line that had been supporting the market for about a month last week. While I look forward to an eventual retest or break of low from last year, I think it best to lower stops if trading short as another consolidation can form nearby before an attempt at a final low.
Crude Oil
Last week saw a continued rise in crude oil in what should be the late stages of a fourth wave. CL is currently testing the lower end of resistance on the weekly chart at 73.90
Dollar Index
DX hugged the 102.70 area last week trading just above and under. Looks like we have yet to form the wave ii low. It will be interesting to see what happens on Wednesday or Thursday when the key economic numbers for the week are released.
Euro
Euro is so far trapped between 1.1060 overhead and the 20 period EMA below. Like DX above, we will see what takes place later in the week.
Gold
I’ve been allowing for a bit of bounce in gold but so far, it has been trading sideways. Bigger picture, I certainly expect gold to push lower, but think it will be similar to the decline from March of last year to the October low, one with overlap in prices. Perhaps there needs to be another minor low before a better bounce.
Russell 2000 Futures
I was looking at this late last week and think it may be forming a triangle [b] wave that could be late in (e) of [b] as it is trapped between 1926 and 1834.
S&P 500
SPX fell back a bit from the high thus far last week. On the lower time frames, I lean to a minor new high but have to acknowledge that with an exhaustion signal from the Wave 59 9-5 study and possible cycle high, I may have to give up on the minor new high. I will probably give up on the minor new high if we fail to rally early this week.
Bitcoin Futures
Little chance in BTC as it trades sideways against 30970. Like the equity indices, I expect it to push lower into September or October.