The Day Ahead: PM Edition 2022-05-26

Equity indices on track with the bounce into Friday

Bonds

Little change today as ZB was trapped again between 142^24 and 141^09. I still favor a move lower relatively soon but can’t rule out another try at poking above 142^24 first.

(B) of [IV] down due to start

Crude Oil

By stepping up to the daily, I see two possible forms here. One is a sloppy five count up from the May low and two, an ending diagonal th…