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 […]

Last week, equity markets rebounded in what appears to be a counter-trend rally with continued downside risk. We do not have a clearly tradable structure as bulls and bears fight it out and the range bound churn continues. While there are enough waves in place to complete the big picture rally, there is no confirmation […]

Last week, equity markets failed to extend higher despite the economic tailwinds of stronger employment, softening inflation and lower rates. While there are enough waves in place to complete the 5 wave rally, there is no confirmation of a bearish change in trend given the overlapping corrective decline. Primary trend support for the Nasdaq and […]

Last week, equity markets corrected lower before rebounding strongly as primary trend support continued to hold. The corrective 3 wave decline and subsequent strong rally keeps the door open to a bull market continuation to new ATH's. Interestingly, the DJIA and Russell continue to lead the late stages of this rally while above 50 day […]