The Day Ahead: PM Edition 2023-01-26

Tesla earnings saves the equity market in the short term

Bonds

I’m pleasantly surprised with the drop in ZB today. I was prepared for ZB to put pressure on resistance at 131^10 but instead bonds stayed under it and broke under 130^11 and now are headed toward 129^18 and the daily moving averages. This makes it more likely that a lower high has been set. Next step in confirmation of a reversal is a drop under t…