The Mars Market Update — Live Research

Last week, equity markets rebounded higher as expected and is now testing ATH resistance. The bull trend remains intact as no key support has been broken and we continue to see impulsive rallies and corrective declines. Bulls need to clear ATH resistance to help confirm a bullish 5th wave extension. The alternate is a more complex wave 4 corrective decline that likely retests 200 day sma support before resuming its final wave 5 rally. Bears need to break key 200 day sma and trend channel...

Last week, equity markets extended lower within its corrective channel (bull flag) before rebounding. The bull trend remains intact as no key support has been broken and we continue to see impulsive rallies and corrective declines. Bulls need to break up and out of its bull flag and clear ATH resistance to help confirm a bullish 5th wave extension. Bears need to break key 200 day sma and prior wave 4 support to invalidate the near term bull trend. While there are enough waves in place to...

Last week, equity markets extended lower within its corrective channel (bull flag) before rebounding late in the week. The benchmark SPX / ES continues to hold nearby support and needs to break up and out of its bull flag this week. The big picture rally appears incomplete as we continue to see impulsive rallies and corrective declines. Bears would need to break this channel to the downside and see an acceleration lower through 200 day sma support to invalidate the bullish structure. While...

Last week, equity markets rebounded from near term support and is attempting to break up and out of a bull flag. The big picture rally appears incomplete as we continue to see impulsive rallies and corrective declines. Bears need to make a stand here and reverse this rally back through initial 50 day sma support and bigger picture support in the 200 day sma area. While there are enough waves in place to complete this rally, the potential remains for a bullish extension to new ATH’s. Indecision...

Last week, equity markets failed to extend higher and risks a completed big picture rally. Bears need to make a stand here and extend this decline through 50 day sma support and recent wave 4 lows. While there are enough waves in place to complete this rally, the potential remains for a bullish extension to new ATH’s while above recent wave 4 lows. Indecision remains as rates hit new highs and Crude Oil threatens to break out. The Nasdaq failed to extend higher and while the structure would...

Last week, equity markets failed to extend higher and risks a completed big picture rally. Bears need to make a stand here and extend this decline through 50 day sma support and recent wave 4 lows. While there are enough waves in place to complete this rally, the potential remains for a bullish extension to new ATH's while above recent wave 4 lows. Fakeout or breakout? Importantly, the Nasdaq failed to extend higher and the structure would still look best with a continued rally to new...

Last week, equity markets extended marginally higher from recent bullish consolidations for what we expect to be an ending wave 5 rally. While there are now enough waves in place to complete the rally there is no evidence of a tradable top. Importantly, the Nasdaq indices extended higher but remain short of new ATH’s – the structure would look best with a continued rally to new ATH’s to confirm the broader market rally. Bears need to reverse last week’s rally and break the 200 day sma and...

Last week, equity markets finally broke up and out of their bullish consolidations. The benchmark SPX broke to new ATH's in what we expect to be an ending wave 5 rally. Importantly, the Nasdaq indices rallied strongly from support but remains short of new ATH's - the structure would look best with a continued rally to new ATH's. Bears need to reverse last week's rally and break the 200 day sma trend support to help confirm a bearish change in trend. Bonds traded sideways with no confirmation...

Last week, equity markets continued to stair step lower before rebounding late as they remain in sideways (likely bullish) consolidations. Importantly, no key support has been broken as the markets threaten to extend higher in another wave 5 rally. While there are enough waves in place to complete the big picture rally there is no confirmation of a top. Bears need to see downside follow through that breaks 200 day sma trend support to help confirm a bearish change in trend. Bonds continued to...

Last week, equity markets continued to stair step lower but remain range bound within sideway consolidations (so far). Importantly, no key trend support has been broken as the markets threaten to extend higher in another wave 5 rally. While there are enough waves in place to complete the big picture rally there is no confirmation of a tradable top despite rising Iran tensions. Bears need to see downside follow through that breaks 200 day sma trend support to help confirm a bigger picture...