The Mars Market Update — Live Research

Last week, equity markets broke near term equality support and extended lower for a hard test of key 200 day sma and trend channel support. The Bulls need to make a stand here and reverse this latest decline for a final push to new ATH’s into year-end. The bearish alternate is a completed 5 wave rally that sees an extension lower and waterfall decline. The Nasdaq indices also extended sharply lower after breaking 200 day sma support and is now testing critical overlap support that would...

Last week, equity markets extended lower as expected and are now testing initial equality support. Bulls have a chance to make a stand here and reverse this latest decline for a final rally to new ATH's. While there are enough waves in place to complete the corrective decline, the risk remains for an extension lower into secondary support at the 200 day sma. The Nasdaq indices are also testing 200 day sma support as we look for the bullish triangle consolidation to hold. Our base case remains...

Last week, equity markets extended lower as expected from the irregular (head-fake) wave (b) top. This latest decline appears incomplete and likely only part of a wave (c) correction lower before setting up a final rally into year end. This sideways consolidation (distribution) and inter-market divergence between the Nasdaq and DJIA warns that the big picture bull market rally likely remains incomplete. Importantly, the bull trend remains intact while above key 200 day sma support. There is no...

Last week, equity markets reversed lower from equality resistance after only a corrective 3 wave rally into ATH's. This structure counts best as an irregular (head-fake) wave (b) top as part of an ongoing wave 4 consolidation as warned last week. Importantly, while we could see a more complex correction and decline, the big picture bull trend remains intact while above key 200 day sma support. There is no evidence of a big picture top as we look for a final wave 5 of (5) rally to new ATH's....

Last week, equity markets pushed to marginal new ATH's but the rally is not clearly impulsive. While the bull trend remains intact with the series of higher highs and higher lows, the overlapping nature of the rally warns that it may be ending. Bulls need to clear ATH and equality resistance to help confirm a bullish 5th wave extension. The risk is a blue wave (b) head-fake top as part of a more complex wave 4 correction. Importantly, the big picture bull trend remains intact while above key...

Last week, equity markets traded sideways and remain range bound within what appears to be a bullish consolidation. The bull trend remains intact as no key support has been broken and we continue to see corrective declines. There is no evidence of a bear reversal but Bulls need to clear ATH resistance to help confirm a bullish 5th wave extension. The alternate is a more complex wave 4 corrective decline that likely retests 200 day sma support before resuming its final wave 5 rally. Bears need...

Last week, equity markets rebounded higher as expected and is now testing ATH resistance. The bull trend remains intact as no key support has been broken and we continue to see impulsive rallies and corrective declines. Bulls need to clear ATH resistance to help confirm a bullish 5th wave extension. The alternate is a more complex wave 4 corrective decline that likely retests 200 day sma support before resuming its final wave 5 rally. Bears need to break key 200 day sma and trend channel...

Last week, equity markets extended lower within its corrective channel (bull flag) before rebounding. The bull trend remains intact as no key support has been broken and we continue to see impulsive rallies and corrective declines. Bulls need to break up and out of its bull flag and clear ATH resistance to help confirm a bullish 5th wave extension. Bears need to break key 200 day sma and prior wave 4 support to invalidate the near term bull trend. While there are enough waves in place to...

Last week, equity markets extended lower within its corrective channel (bull flag) before rebounding late in the week. The benchmark SPX / ES continues to hold nearby support and needs to break up and out of its bull flag this week. The big picture rally appears incomplete as we continue to see impulsive rallies and corrective declines. Bears would need to break this channel to the downside and see an acceleration lower through 200 day sma support to invalidate the bullish structure. While...

Last week, equity markets rebounded from near term support and is attempting to break up and out of a bull flag. The big picture rally appears incomplete as we continue to see impulsive rallies and corrective declines. Bears need to make a stand here and reverse this rally back through initial 50 day sma support and bigger picture support in the 200 day sma area. While there are enough waves in place to complete this rally, the potential remains for a bullish extension to new ATH’s. Indecision...