Last week we got the SPX / ES small degree 5th wave triangle thrust to marginal new highs as expected then a subsequent corrective decline that appears incomplete. The US$ turned lower as expected with the exception of the USDJPY that rallied from support to potentially complete an impulsive 5 waves up (potential change in […]

Primary macro market trends remain intact - global equity markets extended gains while the US$ and bonds turned lower as expected keeping a strong bid under industrial commodities. PM's remain mixed but the door is now open to a more immediately bullish outlook. Equity Markets The near term SPX / ES count has changed. The […]

Last week we correctly identified the corrective nature of the recent market decline which saw equities rally to new ATH's. Bond markets extended declines as expected with curve steepeners being the primary drivers. Industrial commodities like Crude Oil extended gains as expected while PM's whipsawed. The US$ has only rallied in a corrective 3 waves […]

Last week saw a pullback in global risk assets but so far, key markets such as the SPX have only declined in 3 waves of equality. The rally in bonds and US$ appear corrective with more downside likely to come near term. Industrial commodities continued their corrective declines with no evidence of a sustainable top. […]

Primary trends remain unchanged - global equities remain in 5th wave extend and pretend with no evidence of a tradable top, Bitcoin declined in 3 waves of equality, the bond market rally appears corrective (especially the long end), the DXY declined from 4th wave resistance while PM's remain in a larger corrective decline. The weaker […]