The Day Ahead: AM Edition 2021-08-24

Have a minor bias for a bit higher in SPX before sideways or minor retrace

Bonds

I was a bit dismayed yesterday when 165^10 held in the morning yesterday but ZB was unable to recover 165^28 and has been slipping lower since kiss of 165^28. Now bears are back in the driver’s seat. Very short term fair to aim for 164^24 but could accelerate toward 163^27.

Bears in at least short term control

Crude Oil

Well, the silver lining is that…