The Day Ahead: AM Edition 2021-10-13

Choppy in front of the FOMC minutes

Bonds

ZB continued to move higher this morning to just sort of next resist at 160^00. I’m penciling in this rise as either ‘A of (IV)’ or ‘(A) of [II]’. Relatively shallow retraces for B at 158^29 and 158^18.

First step in wave (IV) complete?

Crude Oil

The good news first. CL did come through with a retest of 79.65 as expected. The bad news is that if faile…