Nice move in bonds today to get the retrace up started.
Bonds up this morning enough that it looks like they could stretch to 174^10.
S&P 500 futures have been moving lower overnight to poke just under initial support at 3417.75.
I’m leaving a count that I have as an alternate on the daily and intraday bond charts as the primary on this weekly chart because in practical terms it has the same outcome and similar targets provided the move up in bonds is not too extreme.
Bonds recovering this morning.