The Day Ahead: AM Edition 2021-10-06

Crude finally moving lower, equities choppy, bonds bounce out of new swing low

Bonds

ZB made the expected new swing low in very early this morning and has been rising steadily since. As mentioned last night, not sure if that low is V of (III) or (V) of [I]. Short term, the result is the same, a move higher. Initial resist at 159^29 may act as a speed bump though think they make it over that eventually.

Either up in (IV) or [II]

Crude…