Last week, equities declined in a corrective 3 waves before rallying strongly on Friday despite the stronger than expected NFP. Bears had an opportunity to press following the strong economic data (anticipating delayed rate cuts) but bulls held trend support and squeezed higher. The underlying bull trend remains intact while corrective declines and impulsive rallies […]

Last week equities pushed to new ATH's as the series of corrective declines and impulsive rallies continued unabated. The bull trend remains intact despite potentially bearish 5th wave momentum divergence - the trend is your friend until it bends. We continue to monitor the benchmark SPX / ES bullish trend channel that defines this latest […]

Last week, equities extended higher while holding near term trend channel support as expected. While the SPX and DJIA pushed higher from what appear to be an ending small degree triangle thrust, there is no evidence of trend exhaustion or a tradable top - equities can continue to extend higher while primary trend channel support […]

Last week, equities traded sideways in what appears to be a corrective consolidation (so far). There is no strong evidence of a bearish reversal or trend exhaustion despite increasingly bearish momentum divergence. The stronger than expected CPI and PPI caused rates to rise across the board stalling the equity market's rally without the confirmation of […]

Last week, equities extended higher with what appears to be an overlapping ending diagonal with increasingly bearish momentum divergence. While there is no confirmation of a tradable top, there are warning signs as the semiconductors reversed sharply lower on Friday - when the leaders fall we need to take notice. The question is whether this […]