The Mars Market Update — Live Research

Last week, equities extended their near term declines as expected towards respective support zones. I am not convinced that the counter-trend wave (2) rally is complete and suspect that markets are constructing a more complex correction for wave C of (2). Global rates...

Last week, equity markets traded lower for what appears to be a corrective decline. The lack of conviction in these markets is palpable as traders search for direction. This lack of conviction is evident across asset classes with mixed FX markets, rising rates and...

Last week, equities faded from resistance but the decline is NOT YET clearly impulsive. We do not have confirmation of a tradable top in equities and despite last week's decline, the potential remains for a continued push higher. The equity market seems to be awaiting...

Equities rallied last week as global central banks stepped back from their hawkish signalling. Many equity indices have met minimum upside targets for this proposed wave C rally but despite Friday's weakness there is no strong evidence yet of a bearish reversal. The...

Last week, equities extended their recent rallies and broke out from bearish trend channels and triangles (forewarned is forearmed). Bears are on the defensive as markets look to squeeze higher this week in front of key rate meetings by the FOMC, ECB and BOE. Bulls...

Last week, equities turned sharply lower from resistance but were unable to sustain any break of near term support. The October lows remain intact. Friday's strong opex rally has called into question the bear case. The structure of equity indices, especially the...

Last week, risk assets rallied across the board as traders absorbed high but receding inflation and a weakening global economy. The market is front-running the goldilocks recovery and elusive soft landing. Hopium remains firmly entrenched. We are looking for a bearish...

Last week, equities traded sideways before a late week rally as risk markets digested the latest NFP report. The markets reacted positively to the data as the US$ declined while bonds and equities rallied (risk-on). This week will be important to see if there is any...

From our previous update, "The decline from last week’s highs appears impulsive but would look best with a small degree iv and v to complete an impulsive wave (a) or (i) down". Global equity indices show an impulsive 5 waves down from recent swing highs across the...

Last week, equities pushed to marginal new highs before reversing sharply lower for an outside-week bear reversal. "It is the reaction to the news that matters". The complication is that the near term SPX / ES rally up off the October lows can be counted as both...