The Day Ahead: AM Edition 2021-11-05

Equities strong overnight and early in the morning but ease late morning into midday

Bonds

ZB invalidated the fourth wave idea when it pushed over 161^11 this morning. Now switching to the hypothesis that we are working on an ending diagonal v where we are presently in ‘C of [II]’. Initial resist at 162^30 but I think they could push a little higher next week. Short term bulls are not in any trouble while above 162^05.

Up in (C) of [II]

Cr…