The Day Ahead: AM Edition 2021-02-08

Getting late in the game for the S&P 500 rise from the January 29th low, but don’t want to jump the gun being too bearish too soon.

Bonds were down overnight but have already recovered the overnight drop. I just can’t be bearish down here. I think there is a good chance we see a pretty decent bounce in bonds. Short term, looks up to test 167^13 or 167^25. Over 167^25 should cause bears to begin to capitulate.

Crude pushing higher into the extension targets this morning. The 9-5 study…