The global equity markets got the early week bounce we had been looking for off the prior 3 wave decline. I continue to believe that the initial decline was only "part" of a larger 4th wave structure. Our targets remain lower but given it is a 4th wave in the midst of a northern summer, […]

Key points: - Only 3 waves down of equality for most US indices (bears haven't proven anything yet) - IF wave (3) complete then wave (4) targets remain lower - Russell broke near term support and is approaching CRITICAL support - Bonds, Yen and PM's at critical junctures for the risk on/off trade - Euro […]

Bears' shot across the bow... but no support broken  Yen, Gold and TY Bonds at a critical juncture What we know: - US equity markets turned down where we needed them to - the SPX formed a weekly bearish key reversal candle - the decline is only in 3 waves so far (corrective until proven […]

Last week, equity markets held near term support with only the Russell breaking lower.  We had an "inside week" for the SPX and Nasdaq while the DJIA continued on to new ATH's. The Bond markets broke lower as expected after reaching our upside targets and it is important for the bears that last week's highs […]