The Day Ahead: PM Edition 2022-04-25

Equity indices bounce, gold and crude under some pressure

Bonds

ZB held support at 140^01 today and pushed up to just short of next resist at 142^17 today. As I mentioned in the prior update, I’m less confident in a new swing low in wave [III] at this point but it is possible. I do think there will be some selling from either 142^17 or at 143^31, at which point we find out if bears can force a new low around 13…