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 […]

Last week, equities consolidated recent gains as investors began to rotate out of big tech and into the broader industrials. The DJIA is at a key inflection and has enough waves in place to potentially complete an "ending" diagonal or break up and out of its recent consolidation. The Russell 2000 is also testing the […]

Last week's CPI came in not too hot, not too cold, but just right for this goldilocks market - the US$ broke sharply lower while equities, bonds and commodities rallied in the hope of a less interventionist Fed and potential soft landing. Equity markets are threatening to push towards new ATH's but small caps continue […]

Global equities continue to stall at resistance as global rates rallied across the board - the risk markets are attempting to price in higher rates for longer as global economies remain resilient with constrained labor markets. Equity markets appear to be forming a small degree wave (iv) correction within an ongoing impulsive rally. The alternative […]