Let me start the day with backing up a bit and looking at the weekly S&P 500.

I see the market as about in the middle of a wave (iv) correction. The momentum as reflected by the CCI certainly has that look to it and the initial decline stopped at a typical fourth wave target.

The S&P 500 should push past the February 27th high today. Aim for at least the round number of 2800 and probably just past that to 2818. At that point a modest correction is possible that should hold above 2785 SPX.

The dominant cycle in daily crude points lower for another two weeks thus still favor lower prices in ‘c of (a)’.

The DX is attempting to bounce up out of a small retrace and climb over 90.75 which should be the point that starts a short covering rally.

Euro appears to have set a lower high and starting to drop in a small third wave that should target at least 1.2050.

Promising initial drop in gold away from the resistance marked by the grey box. Now need the immediate resist at 1331 to hold any small bounce.

Still waiting for one last thrust lower in bonds to complete a third wave which would then be followed by a month or so of bounce in wave iv. They may prove stubborn and wait until the FOMC meeting for the last leg down.