Global equity markets are beginning to fracture with European and Asian markets failing at marginal new highs while US markets remain strong. The US$ and bond markets remain range bound and have NOT shown their hand yet. PM's continue to benefit from the weaker usdjpy while CL continues to consolidate in its 4th wave. Last […]

The US equity markets rallied hard last week in what we correctly identified as being wave (v) of 3 - complacency, sentiment and FOMO are severely extended as we approach our initial target objectives for this 3rd wave. I suspect we are in an area where we should start to see some increased volatility for equity […]

Our primary bullish equity positioning continues to be vindicated as wave 3 of (3) of 5 extends towards our upside targets. We were early in identifying this rally as a 3rd wave and there has been NO reason to alter this stance as we climb the wall of worry. We remain bullish. That is why I have focused […]

Apologies for this late update but I am still on vacation and access to charting is difficult. I will try cover the key markets at the moment.  The global equity markets made new ATH's as expected over the past week but these gains were shortlived. The question is whether this rally completed ALL of wave […]