The Day Ahead: PM Edition 2021-07-13
Bonds weak but not clear the larger consolidation is complete
Bonds
ZB had a tough day today. I’m still giving bonds a chance at a new high in August but it is important that they firm up as they approach the daily moving averages. I’m adjusting the wave count to treat the last high as a ‘B of (IV)’ which allows this leg to be a little deeper than the previous count. Support at 160^27 and 159^23.
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