Last week, equity markets pushed to marginal new ATH's before reversing sharply lower as expected. The rally was extended and overdue for a corrective decline as warned last week. The impulsive nature of the decline warns that last week's reversal is likely only part of a larger wave 4 corrective retracement. Equity indices formed a […]

Last week, the equity market bull trend continued higher for what we expect to be a wave (v) of 3 extension. While this latest rally is very extended, there is no evidence of a tradable top as the bull trend continues to subdivide higher. The big picture rally from the April lows remains incomplete and […]

Last week, equities traded sideways in what appears to be a small degree 4th wave consolidation. The door remains open for a 5th wave extension higher as Bulls continue to climb a wall of worry with no confirmation of a tradable top. The bigger picture bull market remains intact and incomplete as we look for […]

Last week, equity markets traded sideways to down with no clear evidence of a bearish reversal. The near term decline appears corrective which keeps the door open for a more immediately bullish 5th wave extension higher. However, there are enough waves in place to complete (v) of 3 and would look best with a larger […]

Last week, equity markets continued to extend higher for what we expect to be a wave (v) of 3 rally with no confirmation of a tradable top. The bigger picture equity market rally appears incomplete and would look best with a wave 4 corrective decline before a final wave 5 of (5) rally. We are […]