The typical Daily Update includes charts and forecasts for the S&P 500, Dollar Index, Euro futures, 30-year bond futures, crude oil futures, and gold futures.
Bonds creeped a little closer to resistance at 145^07 today. Bears can begin to dip a toe in but really need under 143^28 to get going.
I'm moving wave [IV] a swing to the right on this bond chart which means this move up is [V]. Right now price is testing resistance at 144^30. Score this as an aggressive place to short though I can't rule out a test of higher targets before turning lower.
The dominant short daily cycle on the bond chart crests in a week. Prices may have completed the pattern on a lower time frame but a good idea to give it a little time to see if it extends. If prices fall under 143^28 then it likely means the advance from 'b' is complete.
The minimum requirements for five waves up from the start of the month in bonds was met yesterday. Shorting is aggressive while above 143^27 as [V] could extend.
Bonds may have put in the 'c of (ii)' high today. You can count five small waves from the 'b' wave low up to the high today. It was just short from a retrace value at 145^07 but intraday targets have been hit. First confirmation will be prices falling under 143^28.
I've added wave [V] to [I] relationships to the following bond chart. Might pay particular attention to 144^30 and 145^19 over the next few days.
Bonds dropped fractionally under support at 144^03 but price did recover it by the end of the day. This development is not a problem at this point as there is not overlap in the rise. Still like a little higher before the possible end of wave 'c of (ii)'.
Provided bonds hold above 143^27, expect another thrust higher in wave '[V] of c of (ii)'. It is also possible that the wave [III] high has not been set yet which has a projected target at 145^04.
Bonds are likely to advance a little more toward 145^07 or slightly higher to test the channel before the next major decision point which is either to set the wave (ii) in August or to extend into September.
As noted in a previous post, I have promoted the old alternate to main, that prices are working up from a 'b' wave low in '[III] of c of (ii)'. We may not have seen the wave [III] high set yet....