Last week, equity markets continued to extend higher for what we expect to be a wave (v) of 3 rally with no confirmation of a tradable top. The bigger picture equity market rally appears incomplete and would look best with a wave 4 corrective decline before a final wave 5 of (5) rally. We are […]

Last week, equities extended immediately higher to new ATH's in what is likely a 5th wave extension of the wave 3 rally as highlighted last week. There is no evidence of a tradable top as both the SPX and Nasdaq indices rallied to new ATH's. While the minimum conditions have been met for our expected […]

Last week, equity markets traded sideways to down in what appears to be a near term corrective decline within a larger degree wave 4 consolidation. The big picture rally appears incomplete as we look for a final wave 5 of (5) to new ATH's. While the rally could extend immediately higher, we'd like to see […]

Last week, equities continued to wedge into the highs for what we expect to be an ending wave (v) of 3 or C rally into overhead ATH resistance. Despite war breaking out in the Middle East, risk assets remained resilient with no confirmation of a tradable top in equities. Ideally, we'd like to see downside […]

Last week, equities extended marginally higher and appear to be wedging into a test of ATH's. While there is no evidence of a tradable top, there is a risk of near term trend exhaustion as the rally potentially completes wave 3 of (5). Note the bearish momentum divergence as markets edge higher. While the rally […]