MCP Market Update: April 30th, 2018 – Triangles

by | Apr 30, 2018

Last week, the US equity indices rallied after finding support highlighted in our most recent update. So far so good for the bulls as they remain in control while last week's lows hold. Remember Triangles can break both ways so stay nimble! Sometimes when the market speaks we should listen - last week we saw […]

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SPX / NDX Update

by | Apr 25, 2018

Today we got the down-draft we were looking for. So far, the decline is in 3 waves into support as anticipated by the Triangle count. The important thing now is what happens next - a strong SPX rally from the 2600-20 support zone likely sees our next upside target in the 2750 area which will […]

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Nasdaq Update

by | Apr 24, 2018

Nasdaq appears to have formed an impulsive decline from last week's highs. Trade above last week's highs invalidates these near term counts and likely sees a push higher towards our next sell zone around 7000. Triangle - wave (a) likely complete with waves (b) up and (c) down to complete wave E of the bullish […]

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MCP Market Update: April 23rd, 2018 – Yields breaking out

by | Apr 23, 2018

Global equity markets continue to recover from the February lows and yields are breaking out while the US$ is threatening to reverse higher. This will have important implications for equities and commodities. I am not convinced that equities can continue to rally while yields are rising strongly... Late last week I posted SPX updated alternate […]

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SPX Update

by | Apr 20, 2018

SPX turned lower from our 2700-20 resistance zone but held near term 2680 support. The rally from the April lows does not look impulsive so our primary counts remain the Bear and Triangle (both requiring further downside). The question is whether Wednesday marked the pivotal high or we have one more push higher towards 2750 […]

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