Global equity markets rebounded last week into overhead resistance as bonds held key swing support. This remains our key indicator - will rates break higher in a convincing wave (5) rally or will they pull back to continue a more complex wave (4) correction? Higher rates will likely be a strong headwind for global equity […]

Last week, equities broke lower across the board as global rates continued to climb and pressure risk markets. The idea of higher rates for longer is putting pressure on long duration assets as investors continue to pare back positions given higher risk premia. The US$ strength continued into layered resistance as both industrial commodities and […]

Equity markets continued to drift lower as rates rose and investors pared back risk in thin summer trading. The recent equity market decline appears corrective into initial support but we cannot discount the potential for a more bearish wave count. The US$ strength continued across the board as investors embraced the best house in a […]

Global equity markets declined last week for what we expect to be a 4th wave correction within an ongoing bull market trend. The building momentum divergence across the primary equity indices warned of a near term top that saw downside follow through last week. Rates pushed higher for a hard test of the primary swing […]

Last week, equities continued to grind marginally higher as traders digested stronger growth, declining inflation and continued central bank rate rises. While the rally is extended and we are starting to see inter-market and momentum divergence there is no strong evidence of a tradable top. Bonds reversed sharply from resistance and sold off more than […]