Last week, equities held corrective support and turned higher for what we expect to be a final wave (v) of C rally for the major indices (SPX, DJIA and Nasdaq). Completion of this final rally opens the door for the bigger picture bearish turn we had been awaiting- key inflection point for risk markets. The […]

US equity markets continue to stall at resistance with no strong evidence of a bearish reversal. While resistance is resistance until proven otherwise, the benchmark SPX would still look best with a final wave (iv) and (v) push to new swing highs to complete blue wave C (preferred count). This would align with another wave […]

Risk assets continue to squeeze higher as inflation pressures ease and growth stabilises. We continue to see this equity market rally as an ending wave prior to the resumption of the big picture bear market. We expect growth and inflation risks to be overwhelmed by increasing default and credit risk in this over-levered financialised world. […]

Last week, equities stalled at near term resistance but there is no strong evidence of a bearish reversal. The benchmark SPX continues to retest its February highs while the Russell 2000 tests its major swing lows - a bifurcated equity market (weak growth vs rate risks). The DXY weakness continued but the US$ decline was […]

Last week, equities extended higher for what we expect to be a wave (c) or C rally with a risk-on end of quarter rally. We continue to see this rally as a correction within a bigger picture bear market - it's just a matter of degree. The DXY continues to hold support and is attempting […]