The Day Ahead: PM Edition 2022-08-25

Now we wait for Powell's speech in the morning

Bonds

As mentioned in the earlier post, I’m promoting the alternate from yesterday to primary where I’m treating the decline as a leading diagonal the finished in an extended fifth. I’m assuming a bounce is starting to form a wave (II) for a lower high. Initial resist at 138^16 and 139^23 for a shallow wave (II). I certainly think bonds move lower in Sep…