The Day Ahead: PM Edition 2024-01-09

S&P 500 gaps up and pushes to the close

Bonds

Not clear at this point whether we get a new swing in (a) or if the expected bounce only leads to a lower high. I have difficulty being bearish bonds while ZB is above 120^29.

Not clear if we get a lower high or a new swing high

Crude Oil

As I mentioned in the prior post, I’m reluctant to be hasty calling the end of wave ii but it is a problem that 73…