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 […]

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 […]