Alas the February 8th low in bonds turned into only being a very small degree three down from January 28th. That makes the pop up to the high yesterday a small degree fourth and now down in five. Initial targets for the end of five at 166^03 and 165^26. Bulls need over 166^30 as initial confirmation of a turn up.
Crude came through with that little move up I mentioned yesterday to test 59.27 to 59.80. Now I’d like a wave (IV) correction to begin soon that eventually tests 56.59 or 54.86.
Euro dropped away from 1.2155 but not sure wave (B) of [II] has kicked in. Can easily have a retest of 1.2155 or 1.2172. If bears are in control, 1.2137 would hold as resist.
Somewhat like Euro, I’m not sure I’m dialed into the short term pattern. Gold did fall away from 1853.60 but I’m not sure how to treat the drop into this morning. Maybe (I) down and now bouncing in (II).
S&P 500 trying to set a lower high. Whether is sticks or not is being decided now. Safer for bears when back under 3911.20.