The equity markets should be due for a week or so of consolidation.
The theme has been to push up into this next set of timing on the composite cycle chart, allow for a retrace or consolidation, and then push higher into mid March.
The immediate question at hand is do we need a fresh high before retracing? I don’t know, but I lean to letting cash markets printing a new high this morning.
Crude broke up out of the small range but not convinced that it really amounts to much.
DX should try to push past prior resist of 101.83 and challenge 102.55 in the next few days.
Will be looking for gold to poke under 1219 over the next week or so to complete the third segment of the retrace of the advance up from late last year.
Bonds appear to have been thwarted by resist and attempting to press lower. Will be looking for a test of the December low if not a bit more, probably coinciding with the March FOMC meeting.