Last week, global equities extended their declines to new cycle lows despite interventions by the Central Banks of Japan, China and England. The Fed's strong hawkish signalling reaffirms the bearish outlook for global risk. The Fed won't stop until long rates stop rising and they get back ahead of the curve. Global equity markets remain […]

Markets remain in a big picture bear market. Equities extended lower last week to tag our initial downside targets with a hard test of the June lows. It's make or break time. The US$ broke to new cycle highs across the board with the Euro and Pound breaking to new lows. Bonds continued to sell-off […]

Last week, equities turned lower from highlighted fib resistance following the hotter than expected CPI report. It all comes back to the Fed - as CPI remains elevated, the Fed will keep raising rates to constrain the long end of the curve in a highly indebted world. Markets had been "hoping" for a moderating CPI […]

Equity markets rebounded strongly late last week as expected after completing what appears to be an impulsive decline for wave (i) or (a) down. Bears need to make a stand this week to reverse last week's gains and press for a sharp decline in wave (iii) or (c) down. Unfortunately, the recent decline is not […]

Last week, equity markets confirmed our bearish outlook with what appears to be an impulsive decline from recent swing highs. We correctly identified the previous rally as an (a)-(b)-(c) correction within an ongoing bear market. Risk remains to the downside as previous macro tailwinds (Fed liquidity) turn into headwinds (Fed tightening) amidst a global stagflationary […]