Last week equities declined for a hard test of equality support at the 200 day sma before rebounding late despite hotter than expected NFP data. The bulls now have their line in the sand - global equity indices now have enough waves in place to complete a corrective decline. The onus is now on the […]

Last week, equities extended their decline into equality support as expected before rebounding late in the week. While there are now enough waves in place to potentially complete a prima facie corrective wave 4 decline, near term bulls should allow for a small degree 5th wave to marginal new lows to help complete the structure. […]

Last week equities broke impulsively lower as expected as rates pushed to new cycle highs. Global central banks continued to signal higher rates for longer, putting pressure on equities as we look for a hard test of equality targets and key 200 day sma support. Commodities traded sideways to down as economic growth expectations deteriorated […]

Last week, equities rallied correctively before reversing sharply lower on Friday. Bond markets remain under pressure as a stronger US$ coupled with higher energy prices warn of a potential stagflationary environment going forward - key risk to equity markets. Will the goldilocks soft-landing trade be replaced by a stubbornly high cost-push inflation outlook? With the […]

Last week equity bears held the line at a key inflection point and reversed the prior week's gains to help set up more bearish potential. We remain bearish against these highs as we look for a wave (iii) or (c) decline as part of a larger degree equity market correction. Global equity markets and banks […]