The Day Ahead: AM Edition 2022-07-01

First day of the second half of the year

Bonds

ZB spiked to just short of a typical wave four retrace at 141^19 and fell back. For bond bears to feel good about it, ZB needs to stay under 140^04 and drop under 138^26.

(A) of [IV] high set?

Crude Oil

CL put in a bounce but up at resist of 108.80. Prefer bears lean into it again so as to test 103.65 or 101.40.