Last week, equities extended higher as expected in a counter-trend rally into overhead resistance before reversing sharply lower. The question is whether the rally was "all" or "part" of a wave B counter-trend rally. The impulsive nature of Friday's decline warns of an immediate red wave C decline towards big picture targets. The alternate is […]

Last week, equities rallied impulsively from near term support for what we expect to be wave (a) up of a counter-trend red wave B rally. While the initial rally has stalled at 200 day sma resistance, we expect an extension higher towards the 50 day sma for wave (c) of B to potentially set up […]

Last week, equities extended lower to break trend support for what is likely wave A down of a big picture correction. While we do not have confirmation of a tradable low, the markets are oversold with the potential for a counter-trend wave B rally. Our big picture outlook remains unchanged as we look for a […]

Last week, equities continued to stair step lower for a hard test of key trend support with no evidence yet of a bullish reversal. The unrelenting Trump Tariffs threaten to change the dynamics of this bull market and risk a bigger picture wave (4) corrective decline. Bulls need to make a stand early this week […]

Last week, equities extended sharply lower as expected from a corrective wave (b) top but held key trend support. As highlighted in last week's update, "Risk markets remain bullish until we see new 5th wave highs in Bitcoin, the SPX and Nasdaq indices". The SPX / ES tagged long term trend support before rebounding strongly […]