Last week, the equity markets continued to extend higher as expected as the wave 3 rally pushed to new ATH's. Bearish momentum divergence continues to build but there is no evidence of a tradable top. The bull trend remains intact while above the 50 day sma trend support. The bond market rally extended marginally higher […]

The bull trend in equities continued to grind marginally higher while climbing the wall of worry. While the bull trend remains intact, bearish momentum divergence continues to build across multiple timeframes. The primary bull trend appears incomplete but the rally is very extended and overdue for a corrective retracement. From a big picture perspective, we […]

The bull trend in equities continued to extend higher while climbing the wall of worry. While the bull trend remains intact, bearish momentum divergence continued to build across multiple timeframes. The primary bull trend appears incomplete but the rally is very extended and overdue for a corrective retracement. From a big picture perspective, we are […]

NB: Apologies, but there will be no MCP Market Update next week as we will be on vacation. Last week, the bull trend in equities extended immediately higher invalidating the near term top (as warned). While the bull trend continued to make higher highs and higher lows, bearish momentum divergence continued to build across multiple […]

Last week, equity markets rebounded more strongly than expected and the lack of downside follow through calls into question the intermediate term top. While the near term rally is overlapping and not clearly impulsive, the potential remains for both an immediate bullish extension higher (green case) or corrective retracement in wave (c) of 4 down […]