Patience. Not much has changed since the last update. As we approach the US election next week, I expect this range racing to continue. Therefore, I have focused on the bigger picture market structures ahead of this market moving event. While equity markets continue to be range bound in this low conviction area, both the Nasdaq and […]

Global equity markets continue to consolidate within no man's land. While our bias remains bullish, we remain range bound above support and below resistance. As mentioned last week, this is a low conviction area as we wait for the market to show its hand. Last week's highlights were the reversals lower in AUDUSD, Crude Oil and […]

The US$ finally broke out of our well defined triangle as the Euro broke below our key 1.1100 support. US equities also broke down from its small degree triangle but held critical 2110 support - it's do or die time for our bigger picture wave counts. A stronger US$ is not bullish for global risk assets including […]

Patience is often rewarded in markets like these. Keeping your eye on the prize saves you from getting whipsawed in range bound markets. Identifying that you are in a range bound market (which we have) is the first step in ensuring you don't chase false moves. My last couple of updates have focused on "Triangles" and "Don't […]

Last week's price action confirmed our structures of tightening triangles across asset classes. We are at a critical juncture for the US$ bulls. It appears to me that the Euro has shown its hand in the short term and we have clear points of ruin for a long Euro short US$ trade. This will have important […]