The Day Ahead: PM Edition 2022-05-25

Equities try to come back to life but don't have an all clear yet

Bonds

ZB was trapped between 142^24 and 141^09 today. I think it is very late in (A) of [IV] but I have to acknowledge that it could extend toward 144^03 while above 141^09.

Very late in (A) of [IV]

Crude Oil

So far three days of being trapped between 111.60 and 109.45. The dominant cycle favors an eventual drop under 109.45 but it does bother me that it is…