Equity markets are testing key support levels early this week. Defending the 200 day sma is paramount to the institutions. The US$ and PM's remain range bound while bonds look to be ending a corrective rally. Crude Oil appears to be on the edge of a major decline with historically high bullish sentiment. USDCAD is […]

Equity markets failed to follow through on the upside last week as Tuesday's bearish engulfing day triggered a correction in US markets. This week risk markets will be focused on Wednesday's FOMC while awaiting Trump's inevitable attack on China's trade policies. This will have important implications for the US$, Gold, Bonds and global equities. Early […]

Friday was a key inflection point - the market had two binary choices on the post-NFP gap up into our sell zone - (i) an early reversal would have triggered a bearish reversal (ii) gap and go invalidated a number of our near term sell signals - unfortunately for our positioning, the bears fumbled and […]

Last week we were looking for early equity market strength to fade. Tuesday kicked off a nice impulsive decline that met our initial downside targets. Europe and Asia were the worst hit with Trump stepping up his trade war rhetoric. The bond markets bounced off support but only in a "corrective" 3 waves so far. […]