Last week we were looking for a resumption of the decline in equities but the bears fumbled the ball at the 5 yard line. Now things get more complicated. Importantly, the bond bulls held key support on TLT highlighted last week and the US$ bulls made the first steps in trying to reverse the intermediate […]

While I was on vacation the global equity markets had a mini heart attack. Fortunately, we identified key support and resistance areas of this volatile move and kept on the right side. We are now at another important juncture across asset classes. What we know: ES / SPX - Impulsive decline from the ATH's into […]

We have been warning that rising bond yields would be negative for the stock market (and not supportive as most pundits think). While anticipating an acceleration in rising yields to increase our confidence of a 3rd wave decline in bonds,we were also focused on the clear 2018 ES trend channel rally, a break of which […]