Last week, equities extended immediately higher to new ATH's in what is likely a 5th wave extension of the wave 3 rally as highlighted last week. There is no evidence of a tradable top as both the SPX and Nasdaq indices rallied to new ATH's. While the minimum conditions have been met for our expected […]

Last week, equity markets traded sideways to down in what appears to be a near term corrective decline within a larger degree wave 4 consolidation. The big picture rally appears incomplete as we look for a final wave 5 of (5) to new ATH's. While the rally could extend immediately higher, we'd like to see […]

Last week, equities continued to wedge into the highs for what we expect to be an ending wave (v) of 3 or C rally into overhead ATH resistance. Despite war breaking out in the Middle East, risk assets remained resilient with no confirmation of a tradable top in equities. Ideally, we'd like to see downside […]

Last week, equities extended marginally higher and appear to be wedging into a test of ATH's. While there is no evidence of a tradable top, there is a risk of near term trend exhaustion as the rally potentially completes wave 3 of (5). Note the bearish momentum divergence as markets edge higher. While the rally […]

Last week, equity market leaders (ES / NQ) pushed to marginal new highs unconfirmed by the broader indices (YM / RTY). While there are now enough waves in place to help complete wave (iii) or 3, the bull market rally would still look best with an extension higher towards ATH resistance while holding key overlap […]