Equity markets failed to follow through on the upside last week as Tuesday's bearish engulfing day triggered a correction in US markets. This week risk markets will be focused on Wednesday's FOMC while awaiting Trump's inevitable attack on China's trade policies. This will have important implications for the US$, Gold, Bonds and global equities. Early […]

Friday was a key inflection point - the market had two binary choices on the post-NFP gap up into our sell zone - (i) an early reversal would have triggered a bearish reversal (ii) gap and go invalidated a number of our near term sell signals - unfortunately for our positioning, the bears fumbled and […]

Last week we were looking for early equity market strength to fade. Tuesday kicked off a nice impulsive decline that met our initial downside targets. Europe and Asia were the worst hit with Trump stepping up his trade war rhetoric. The bond markets bounced off support but only in a "corrective" 3 waves so far. […]

Last week we were looking for a resumption of the decline in equities but the bears fumbled the ball at the 5 yard line. Now things get more complicated. Importantly, the bond bulls held key support on TLT highlighted last week and the US$ bulls made the first steps in trying to reverse the intermediate […]

While I was on vacation the global equity markets had a mini heart attack. Fortunately, we identified key support and resistance areas of this volatile move and kept on the right side. We are now at another important juncture across asset classes. What we know: ES / SPX - Impulsive decline from the ATH's into […]