Global equities extended rallies last week despite rising short rates and a flattening yield curve. We are still waiting for the DJIA and Russell 2000 to confirm 5 waves up by breaking out of this congestion. This week, we are looking for a potential end to the rallies in commodity currencies while Crude Oil and […]

Last week the equity markets cleared our near term inflection point and rallied directly to test ATH's. While we continue to look for new wave 5 highs for this cycle, we are still not convinced that this immediate rally is sustainable. No index has clearly broken out with the Nasdaq clearly lagging. The DXY remains […]

Last week saw a strong recovery from equities after a corrective 3 waves down from the ATH's as posted and tweeted. We are now at a near term inflection point for the broader market structure. Our base case remains that this decline is all or part of a corrective 4th wave with new ATH's required […]

The bulls retain the ball but risks are rising! From a big picture perspective most global equities would look best with a final 5th wave to new ATH's to complete the rally from the 2009 major wave IV lows. For perspective, we are looking to complete 5 waves up of multiple degrees. While we have […]

Last week we saw a continued selloff in equities as markets digest the potential for an ongoing stagflationary environment. The ES and NQ made marginal new cycle lows before reversing sharply higher on Friday. The rally on Friday is only in 3 waves so far and needs to extend higher in 5 waves on Monday […]