Last week, our themes of bullish bonds and PM's and bearish US$ continued. The global equity markets have remained resilient with some indices breaking out to new ATH's despite the conflicting signals sent out by the Yen, Bonds and PM's. While we expect these themes to continue, the US equity markets are challenging important resistance zones - most […]

Last week saw US equity bulls push markets to new cycle highs invalidating our near term bearish count. The question is whether this latest rally was the start of wave (iii) of 5 higher or wave B of a more complex wave 4 correction (Expanded Flat or Running Triangle). I am looking for early strength this […]

Late last week I posted an interim market update highlighting the key market risks right now. My base case is that last week's decline was only the first leg of a larger decline for wave (c) of 4. Ideally, the next week is a period of risk-off where we see equities decline while Bonds, PM's and […]

Given the increased volatility over the last few days and important moves in the US$, PM's and Bond markets, I wanted to update members on some potential near term scenarios... The US$ has now broken important long term support. We must now presume we are in a period of increased US$ volatility and a larger […]

We continue to see equities topping near term with risks to the downside while Bonds and the US$ are both at important inflection points. Crude Oil has now confirmed its turn higher while Palladium is threatening to make another marginal new high. This is a very important week for the Euro, Pound and Bond markets. […]