The Day Ahead: AM Edition 2022-08-24

A morning recovery in the equity indices fails at noon

Bonds

I had been looking for a small retrace up in bonds before lower, but they are not interested as they broke under 137^02 this morning. The next target down is at 135^21 followed by 133^30.

Trying to extend toward 135^21

Crude Oil

CL slipped a little from resist at 94.30 but recovered and thus is staying on plan to extend a little more in wave [III]. Do…