Bonds are getting smashed. It looks like either someone knows something we don’t about Nonfarm Payrolls, or the bond market has finally excepted the risk on exuberance of the stock market. Both Kovach Momentum Indicators are solidly bearish, so avoid honey-badgering your way into a trade. The Elliott Wave suggests we should have a pullback before retracing further
Stocks are absolutely crushing it, continuously making new highs. Watch for a bit of a squeeze, especially before nonfarm payrolls. As with bonds, a bumper number could set stocks rallying further, just watch for profit taking. A bad print may also be good for stocks because it would warrant more intervention from the Federal Reserve. If we do see a pullback, watch for support around 3100 from technical and Fibonacci Levels. Note that the Kovach Momentum indicators are solidly bullish so wait for a dip to enter a long if you are bullish.