The Day Ahead: PM Edition 2021-07-19
Crude tumbles enough to confirm the start of a larger correction
Bonds
ZB thrust past 163^27 today to a new high. Because there are a fair number of three wave moves since the June high, I’m going to assume an ending diagonal is forming and expect a retrace and one more high to complete the pattern.
Crude Oil
Impressive drop today in CL which all but confirms that wave (a) of ii ha…
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