Bonds
ZB is on track for lower in wave (b) but looks like it could bounce a bit on lower time frames prior to pushing for 115^31 or lower.
Crude Oil
Last week, I mentioned that I don’t have a high confidence in 77.80 holding as resistance, but I do still think that CL is pretty late in a wave ‘ii’ to form a lower high to that from last September. Notice that the adaptive CCI at the top of the chart is nearing the zero line, a phenomenon that often marks a corrective bounce.
Dollar Index
DX came off its highs last week but nothing alarming about it. I think DX is likely on the verge of forcing bears to cover or confirmation for bulls that it is ok to buy. As long as DX doesn’t fall much, it looks more like base building for the next major move.
Euro
Same idea as above in Euro except the inverse. There can be a minor bounce prior to moving lower in either wave ‘[ii] or wave ‘[v] of C.’
Gold
Gold took a dip under 2027.80 last week but recovered. Bears need GC to spend time under 2027.80 to feel good about a break lower.
S&P 500
There was a drop last week in the S&P 500 but held an old target turned support at 4916. I continue to think this is very late in the fractal up from the October low of last year and that in turn could be a completed move up from the 2022 low. Can I rule out a thrust yet higher? No, of course not, it could certainly extend but I would caution against being in a hurry to buy pullbacks at this point. Note that the Wave 59 9-5 study will have a signal present on the high last week as soon and the new candle for this week opens.
Nasdaq 100 Futures
NQ fell from a growth target up from the 2022 low last week and closed right at the 2021 high. Spending time under the 2021 high this week is a minor negative but bears really need NQ under 17298 for confirmation of a reversal.
E-Mini Russell 2000 Futures
RTY is not doing very well and so far is on a lower high to that of late last year. Need to see is spend time under 1992 for early confirmation of a reversal.