Last week, equity markets broke near term equality support and extended lower for a hard test of key 200 day sma and trend channel support. The Bulls need to make a stand here and reverse this latest decline for a final push to new ATH’s into year-end. The bearish alternate is a completed 5 wave […]

Last week, equity markets extended lower as expected and are now testing initial equality support. Bulls have a chance to make a stand here and reverse this latest decline for a final rally to new ATH's. While there are enough waves in place to complete the corrective decline, the risk remains for an extension lower […]

Last week, equity markets extended lower as expected from the irregular (head-fake) wave (b) top. This latest decline appears incomplete and likely only part of a wave (c) correction lower before setting up a final rally into year end. This sideways consolidation (distribution) and inter-market divergence between the Nasdaq and DJIA warns that the big […]

Last week, equity markets reversed lower from equality resistance after only a corrective 3 wave rally into ATH's. This structure counts best as an irregular (head-fake) wave (b) top as part of an ongoing wave 4 consolidation as warned last week. Importantly, while we could see a more complex correction and decline, the big picture […]

Last week, equity markets pushed to marginal new ATH's but the rally is not clearly impulsive. While the bull trend remains intact with the series of higher highs and higher lows, the overlapping nature of the rally warns that it may be ending. Bulls need to clear ATH and equality resistance to help confirm a […]