Last week, equities continued to extend higher towards bigger picture resistance in the holiday shortened week. The major indices continue to lead the way with the Nasdaq, S&P and DJIA continuing to impulse higher while the Russell, NYA and RSP rallies appear corrective (so far). These fragmented markets warn of greater risks going forward unless […]

Last week, equity markets continued to rally strongly on the back of a benign CPI and falling rates. The Nasdaq, SPX and DJIA continued to impulse higher while the Russell 2000, RSP and NYA lagged in what appear to be corrective rallies so far. The strength of this rally continues to warn that the bull […]

Last week, equity markets extended higher for what appears to be an impulsive rally for wave (a) or (i) of a larger degree advance. Near term, there are enough waves in place to complete 5 waves of the initial impulse so we should be alert to the potential for a corrective retracement. Bonds continue to […]

Last week, equities rallied sharply for what is expected to be a relief rally and short covering following completion of the 5 wave decline as warned last week. The initial rally from support is likely to be wave (a) up of a larger degree (a)-(b)-(c) correction. Importantly, both the rates markets and US$ reversed sharply […]

Last week global equities extended recent declines into 5 waves to help confirm the bigger picture bearish change in trend. Importantly, the benchmark SPX / ES declined so far as to overlap its wave 1 / A high and confirm a corrective 3 wave rally from the October 2022 lows. The bears have taken control […]