NB: Unfortunately, I will be taking leave for the next two weeks as I undergo a hip operation. Apologies in advance for the inconvenience but I'll be back on deck as soon as practical. Equities broke unexpectedly higher last week to invalidate our near term bear count. The ES COT data had warned of overloaded […]

Equities rallied last week for what we expect to be wave (c) of a corrective advance. There are enough waves in place to complete this near term counter-trend rally and the onus is on the bears to make a stand here. The question is whether this rally completed all of red uber bear (ii) or […]

Last week, equity markets confirmed our outlook for a corrective rally within a bigger picture downtrend. Equities declined into anticipated wave (b) support before rebounding sharply late in the week for what we expect to be wave (c) higher - It's just a matter of degree. Equities held support despite bearish inflation reports and hawkish […]

Equity markets remain in big picture bear markets but traded sidways to up last week for what is likely to be a wave (ii) or 2 corrective rally. It continues to be a question of degree but let's not lose sight of the big picture. Only the Nasdaq has broken out of its declining wedge. […]

... time for the bulls to make a stand. Equity markets reversed lower from resistance early last week confirming another corrective rally. The near term risk is a hard test of recent swing lows led by the Nasdaq indices. Bulls need to make a stand and break up and out of the wedge to help […]