The Week Ahead: 2021-07-18

Equity indices can use a retrace but think they hold up into next month

Bonds

ZB held above 160^19 at the low last week and is moving up and likely to make a new swing high at 165^23 or 167^13. For form, I’m treating this as a [C] of iv in a leading diagonal (i) off of the high early last year. That allows for wave iv to overlap the wave i low. Overall allowing bonds to hold up till later in the year though perhaps with anot…