Last week, equity markets traded lower for what appears to be a corrective decline. The lack of conviction in these markets is palpable as traders search for direction. This lack of conviction is evident across asset classes with mixed FX markets, rising rates and choppy commodity markets. There appears to be a lack of impulsive […]

Last week, equities faded from resistance but the decline is NOT YET clearly impulsive. We do not have confirmation of a tradable top in equities and despite last week's decline, the potential remains for a continued push higher. The equity market seems to be awaiting this week's CPI before committing to a near term direction. […]

Equities rallied last week as global central banks stepped back from their hawkish signalling. Many equity indices have met minimum upside targets for this proposed wave C rally but despite Friday's weakness there is no strong evidence yet of a bearish reversal. The US$ rallied late last week to form a bullish weekly reversal. Bonds […]

Last week, equities extended their recent rallies and broke out from bearish trend channels and triangles (forewarned is forearmed). Bears are on the defensive as markets look to squeeze higher this week in front of key rate meetings by the FOMC, ECB and BOE. Bulls are leading the narrative with the idea of a goldilocks […]

Last week, equities turned sharply lower from resistance but were unable to sustain any break of near term support. The October lows remain intact. Friday's strong opex rally has called into question the bear case. The structure of equity indices, especially the Nasdaq and SPX, are starting to resemble a triangle compression, increasing the risk […]