The Day Ahead: AM Edition 2022-09-29

Traders are not convinced that anything has changed

Bonds

While ZB is under 128^11, I’m inclined to expect a retest or minor new low before going into the formation of the next higher degree fourth wave. The danger is that 125^08 holds as support and turns into a larger correction.

Minor bias to a retest or new low

Crude Oil

Little to say in CL as it is trapped at the top of the target range for a fourth wav…