Bears' shot across the bow... but no support broken  Yen, Gold and TY Bonds at a critical juncture What we know: - US equity markets turned down where we needed them to - the SPX formed a weekly bearish key reversal candle - the decline is only in 3 waves so far (corrective until proven […]

Last week, equity markets held near term support with only the Russell breaking lower.  We had an "inside week" for the SPX and Nasdaq while the DJIA continued on to new ATH's. The Bond markets broke lower as expected after reaching our upside targets and it is important for the bears that last week's highs […]

We are bearish US equity markets here. All key markets have enough waves in place to complete their near term rallies. With investor sentiment and complacency at extreme levels, near term risk remains to the downside. The US$ is also approaching downside targets with investor sentiment at extremes. The Aussie$ and Dr Copper near term […]

US equity markets have now achieved upside objectives to complete respective wave 5 of (3) so risk is now firmly to the downside. Bonds have rallied into our sell zones but there is a risk that these waves are impulsive - high risk of failure for the bear trade. US$ shorts are a heavily one-sided […]

Some equity markets made new ATH's last week as we had been anticipating while the US$ continued its decline as a reaction to weak economic data and a more accommodative Fed. While we see further US$ weakness to come across the board, the near term bearish US$ sentiment is approaching extreme levels so be careful […]