The Mars Market Update — Live Research

Last week, equities rebounded strongly from our key support and pushed to marginal new ATH's. The bullish trend of higher highs and higher lows remains unbroken and despite deteriorating momentum, there is no evidence of trend exhaustion. With the FOMC due on...

Last week saw a continuation of the recent reflation trade unwind with commodity currencies weakening, bonds rallying, curve flattening and the small caps rolling over (again). We warned last week that the Russell 2000 only showed 3 waves up of equality, leaving it...

The global bull market continues to extend higher as global rates and the US$ remain range bound. Commodity markets remain in a topping process and likely nearing the end of their initial impulsive rally from the 2020 lows. The Russell 2000 held bullish near term...

Last week started with a strong bullish reversal in equities after a corrective 3 waves down (as tweeted on Monday) that extended higher throughout the week. The ES and NQ pushed to new ATH's while the RTY and YM are threatening to break higher. The Russell 2000 / RTY...

Last week, the Fed signalled a slight change in policy, sparking a reversal in risk assets led by curve flattening. We saw the US$ spike higher out of congestion, equities fall from resistance and PM's reverse lower. The charts warned of a risk reversal and the Fed...

Global risk assets continue to grind higher with no evidence of a tradable top. The ES / SPX appears to be completing 5 waves up from the March lows into marginal new ATH's. The bulls remain in control until we see evidence of a bearish reversal. The Russell 2000 /...

The key macro themes driving risk markets higher are the weak US$, stable rates and goldilocks economy (not too hot, not too cold). Friday's NFP gave bulls an excuse to drive risk assets higher as the US$ fell and bonds rallied. The question is whether we stall out...

Last week, equity bears failed to make a stand as risk markets pressed higher. The Russell 2000 remains in the latter stages of a wave 4 bullish triangle / pennant. The Russell remains our clearest wave structure as the large caps continue to lag. The DXY attempted a...

Last week US equities saw a hard test of structural trend support and held - the trend is your friend until it bends. It is important to note that the recent rally up off the lows appears corrective and is at risk of reversing early this week. All bullish market...