Last week we got the impulsive decline we had been looking for into Fib support for US equities. From a big picture perspective we now have 5 waves down and 3 waves up terminating at 61.8% Fib resistance indicating a bigger picture change in trend to down. The question is whether the 3 wave rally […]

Last week US equities rallied in 3 waves into our targeted resistance areas. Minimum conditions have been met for a counter trend rally so the door is now open for the bears - the question is whether this rally was ALL of wave 2/B or only wave (a) of a more complex correction. Importantly, both […]

Last week we got the strong count trend rally we were looking for - our disciplined process enables us to take the emotion out of the market. We were bearish at the new ATH's and bullish at the panic lows early last week. This week will be important for the run up into year-end with […]

Last week saw a continuation of the bear market trend with no evidence of a tradable low. The market will need to turn higher early this week to maintain bullish near term momentum divergence. What we have from a big picture perspective: a potentially completed 5 wave rally from the 2009 and 2016 lows momentum […]

Last week we warned that any rally in the US equity indices off 50 week sma support was likely to be corrective (a-b-c) as the bigger picture trend remains down. The question is whether last week's rally was ALL of wave 2/B or merely the first leg of a larger corrective rally. Importantly, the weekly […]