Last week, equities rebounded from last line support before accelerating lower in a waterfall decline (as warned). "The longer this Iran conflict remains unresolved, the greater the risk of stagflationary headwinds of higher rates and energy prices." The break of support opens the door to much lower prices with the risk of an accelerated decline […]

Last week, equities continued to stair-step lower to break 200 day sma support as the Iran conflict escalated. The SPX and Nasdaq is now testing the last line of defence for the bulls (November lows). The risk is a continued waterfall decline on a break of support that accelerates to the downside. The longer this […]

Last week, equities rebounded strongly from 200 day sma support but faded for the rest of the week as the Iran conflict escalated (Trump TACO and mixed messages). The major US equity indices remain above key support but risks are growing as the headwinds of higher rates and energy prices take hold. Bulls need to […]

Last week, equity markets stair stepped lower as ES tested our 6720 support before rebounding correctively. Over the weekend, the Iran conflict escalated with Crude Oil surging higher prompting a gap down in the ES. Equity markets are now testing secondary support at the 200 day sma and November lows. As warned last week, the […]

Last week, equity markets extended lower as expected but remain range bound from a big picture perspective. Despite the AI blow-off, Software sell-off, Tariff uncertainty and Iran War, equities remain range bound above 200 day sma support. No damage has been done to the bull case but risks remain if key support breaks. This sideways […]