The Day Ahead: AM Edition 2022-02-23

Bears continue to sell first and ask questions later

Bonds

Forecast from yesterday was to preferably see a little lower in ZB before rising in the next leg up in [II]. This has come to pass as 153^15 was used as resist and we had ZB poke under 152^14 and almost test 151^30. I’d say this is good enough for a shallow (B) wave but can’t rule out lower. If ZB begins to trade above 152^28, don’t fight the rise.

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