Bonds
Oh so close to the channel harmonic. A tap of that harmonic just a little lower would look nice but I wouldn’t say it is required. Once the next candle prints, the Wave 59 9-5 study will print an ‘8’ on the candle from last week which is just one short of an ideal exhaustion signal of ‘9’. Net, late to short in my opinion but pretty aggressive to buy prior to the FOMC meeting, but something to watch closely this week.
Crude Oil
While it is true that CL as tested the first target for a c of (b), I lean to a minor new swing high to complete (b) while above 79.70.
Dollar Index
I’ve been expecting a bit of a retrace in DX and may be getting that this week. Not expecting anything too deep and would be ok with essentially sideways.
Euro
Seems likely that Euro will push up through 1.0780 to retest the hourly 20 EMA which is at 1.0855.
Gold
I’ve been thinking that gold is working on a wave [IV] retrace which may be complete, at least in price if not time.
S&P 500
I’m pretty happy with the action last week in the S&P 500 as it put in a nice bounce from support. I also think SPX has a good chance at a retest or new high before a more serious retrace or reversal lower. Cycles suggest two or three weeks of advance.
Bitcoin Futures
BTC is under a little more pressure than I prefer, but I’m not going to stress over it too much. I’m lowering my must hold support to 57140.