Bonds
ZB started strong last week but ended up giving back half of it late in the week. I’m thinking last week was a possible ‘b of (b)’ and ready to start ‘c of (b)’ down.
Crude Oil
Impressive drop in crude last week which probably marks the start of wave ‘iii of (c)’ down. First major target down in 63.00 though I expect lower.
Dollar Index
The dip in DX last week probably was the small correction I was looking for and thus probably early in the next leg up. Next point of interest overhead is at 105.40.
Euro
Euro is now testing the low from early December which should be weak support. I think it best to assume the Euro will trend lower to at least the October low from last year but likely beyond that before any major bounce.
Gold
GC poked above 2072 briefly but fell back under last week. I’m expecting GC will break under 2027.80 soon and begin to pick up speed.
S&P 500
SPX put in a solid advance last week, but I think it extremely dangerous to chase at this point. Yes, I know, I’ve been saying that a lot, but I do think we are just putting the final touches on the advance up from the late October low. A drop under 4916 would be an early warning of a reversal on this time frame though the major support to break in the future is 4793.
Bitcoin Futures
BTC dropped to test the major support at 39020 and bounced. Now I’m looking for a lower high to form to the high from January.