The Day Ahead: PM Edition 2022-01-03

First trading day of the year

Bonds

Bears came through so as to keep the wave (III) down on track. With the break under 158^17 we should look for a tap of 157^04 prior to much of a bounce. 155^20 is a deep target for wave (III) but let us see what happens at 157^03 first.

Working on wave (III)

Crude Oil

Crude came through today with a rise up off of a test of support at 74.58. The domin…