Charts added as I complete them. Full post ETA 10:30.
Inclined to let bonds bounce a bit now though there is a chance they turn back down from 145^28 to make a new low. I like 146^14 better as a point for bears to step back in.
Crude didn’t quite make it to 53.65 but I think good enough for wave iii or c. Now we find out if they hold support at 51.21 or 49.92 for a wave iv or if they are ready for a more substantial retrace. I am inclined to let them try for a five count up from the high.
Nice to see Euro down this morning which makes the wave ii in case look pretty good. Euro is near first support now at 1.1518 but I would like to see it test the lower supports before a bounce.
Bears are in fact working on gold by selling where they needed to to get a lower high to stick. Having sold against 1297.70 and 1295.90, the next step is to break under 1288.30 which should then create an air pocket and allow prices to drop to test 1275.30.
SPX looks lower to me this morning but important to drop under 2582 to get the ball rolling. Next support region is 2566 which I think should be weak.
