Bonds are testing support at 178^02 this morning while the dominant intraday cycle forecasts a low.
S&P 500 futures ran higher overnight to test 2977.00 which is a good target for wave ‘[III] of v of (i)’.
Bonds dropped today to test the bottom end of the range that it has traded in for the past two months.
Had thought bounds needed a minor retrace before advancing but this is a bit more than I was originally thinking.
Bears lost their chance to take SPX lower with the failure to press down overnight in the futures.