Last week, equities continued to rebound in what appears to be a complex but corrective 3 wave rally into layered overhead resistance. Our base case remains for at least a wave (c) decline once this corrective wave (b) rally is complete. Bears need to make a stand early this week and reverse last Friday's rally […]

Last week, equities rebounded sharply and we did not get the downside follow through to help confirm an impulsive decline. The structure counts best as a 3 wave decline and subsequent 3 wave rally into overhead 50 day sma resistance for the primary indices. This week will see a key test of overhead resistance as […]

Last week, equities broke the key 50 day sma trend support and flushed lower as expected. "Bulls need to make a stand here to reverse the recent decline or risk a waterfall decline." This latest decline appears to be in an 3 waves down so far and needs to extend lower in an impulsive 5 […]

Last week, equities extended lower within what appears to be a corrective decline into key 50 day sma trend support. Bulls need to make a stand here to reverse the recent decline or risk a waterfall decline. While the SPX / ES and Nasdaq / NQ declines appear corrective, the DJIA / YM impulsive decline […]

Last week, equities declined in a corrective 3 waves before rallying strongly on Friday despite the stronger than expected NFP. Bears had an opportunity to press following the strong economic data (anticipating delayed rate cuts) but bulls held trend support and squeezed higher. The underlying bull trend remains intact while corrective declines and impulsive rallies […]