Last week saw equities decline sharply in 3 waves on a technical break of support before rallying for the remainder of the week. It now appears that we have a corrective 3 waves down from ATH's and an impulsive rally up off the lows. The question is whether this latest rally is part of a […]

Last week, equities continued to stair step lower and finally broke layered support at Friday's close. Equities remain bearish while below Friday's highs with strong downside potential given this break of structural support. From a big picture perspective, we continue to see this rally up from the March 2020 lows as a final 5th wave […]

Last week we saw a pullback in equities as expected confirming recent non-confirmation highs. Our primary indicator of market trend, the SPX / ES, has fallen back towards key trend support and the 50 day sma - it's make or break time (again). While the decline from ATH's is not clearly impulsive, the intraday series […]

Equities continue to hold gains with no evidence of a tradable top. While the Nasdaq and SPX rallies are extended, the DJIA and Russell continue to underperform and require new ATH's to complete potential ending waves. The US$ fell sharply as expected with the USDSGD and USDCNH tagging downside targets. Bonds were unable to break […]

Last week, the SPX and Nasdaq indices pushed to new ATH's as expected while the DJIA and Russell rebounded strongly from support. There are now enough waves in place to complete near term rallies in the former while the latter still need new ATH's to help confirm a longer term top. The US$ continued to […]