The Day Ahead: AM Edition 2021-05-18

Has a lower high been set in the equity indices?

Bonds

As I mentioned last night, I’m backing away from the idea of getting much more bounce in ZB before moving lower. In fact, the bounce to near 157^01 could be good enough and now in the early stages of dropping in (C) of [B]. Next cycle inflection is early next week which I’m assuming will be a low.

Early in (C) of [B] down?

Crude Oil

Did get the expect…