Bonds still on track to move up to at least 182^23.

Crude has finally popped up through 27.64 to a new swing high. Technically this qualifies for a completed five wave structure but I prefer to see one of the next overhead targets at 29.38 or 30.49 being tested before retracing in a wave ii.

The good news is that DX managed higher today but my enthusiasm is curbed by a possible cycle high being near. Bulls need to travel more sideways than down for the next week or so. Support at 100.03 and 99.67.

I have similar misgivings in Euro about follow-through here as in DX above. Yes, Euro did move lower today but failed to break under a prior low from this month. I wonder if we are seeing a more complex wave (II) forming over the next several days and thus open to seeing resist at 1.0860 or 1.0903 retested.

Gold moved up from a test of the daily moving averages to just under resist at 1746.75. I remain skeptical of higher but can’t really act on it until prices are back under 1725.90 and 1705.20.

The good news is that the S&P 500 lifted from a morning low as forecast. The bad news for the bearish view is that the rally is more than expected. I’m sticking with the view of a lower high forming tomorrow or Monday against 2876 or 2907 but the alternate, which treats the low today as a fourth wave, is certainly a possibility which would result in a push toward 3039 over then next week or so.