Equity markets rebounded strongly last week led by FAAMG as the Nasdaq indices pushed to new cycle highs. The broader indices remain below prior swing highs opening the door to a bearish non-confirmation - bears need to make a stand here to reverse last week's gains as part of the intermediate term correction. From a […]

Last week saw multiple equity markets top out in 5 waves from the March lows and reverse sharply lower. We are looking for a 3 wave correction before a resumption of the bigger picture uptrend. This decline is likely wave (a) of an a-b-c correction targeting 38.2%-61.8% fib support of the March rally. We are […]

Last week, global equities declined from measured resistance but failed to break meaningful support. So far, the equity rally is in 3 waves - any trade above the wave (c) highs will change the rally into a 5 wave impulse - this is important! Any near term push to new cycle highs will indicate that […]

Last week, US equities continued to extend gains with the ES / SPX finally tagging equality targets. Our base case is for a near term top in equities followed by a resumption of the bigger picture downtrend. The alternate bull case is for a continued impulse rally to new ATH's - we are at a […]

Late last week the Fed announced further funding measures to effectively provide a bridging loan to US corporates to help carry them through this severe demand shock triggered by the Coronavirus shut down. The Fed is doing what it can to ensure a basically functioning financial system and provide banks with sufficient balance sheet capacity […]