The Mars Market Update — Live Research

The global risk-on environment continued with the SPX and DJIA on the cusp of following the Nasdaq to new ATH's (minimum expectations given the 2018 corrective decline). The Russell 2000 is at an important juncture with a strong close over 1600 potentially triggering a chase higher. The US Bonds impulsed higher after completing a corrective 3 waves down so the bearish case for rates continues. The US dollar pushed to marginal new cycle highs as expected but this week is important for follow...

The risk-on rally continued last week with global equity indices pushing higher. The US dollar remains well bid as it approaches key resistance while US bonds are at a key inflection point. The SPX / ES continues to impulse higher as it approaches new ATH's. The bull trend remains in tact until we see a change in character of the market. We continue to see this latest move higher as a 5th wave extension but there is no evidence of a tradable top. Only trade back below 2858 would weaken the...

Last week, we highlighted opportunities in the Bond, Gold and Yen markets and all appear to be playing out well. Global equities continue to trend higher towards new ATH's. Volatility and volume across ALL asset classes are near historical lows - complacency is extreme. The SPX / ES continues to impulse higher in what is expected to be wave (iii) of an extended 5th wave. The series of higher highs and lows continues - the very definition of a bullish trend as the market looks for new ATH's. ES...

Last week, equity market bulls held the opening gap and pushed to new cycle highs extending the series of higher highs and higher lows since the December 2018 lows. The bull trend continues to extend globally. The most important market event last week was the impulsive decline in US bond markets from their non-confirmation highs. This signals a near term change in trend for the bond markets confirmed by the impulsive decline in Gold. Bonds trended impulsively lower last week from recent swing...

Last week we were looking for confirmation of a change in trend but the bears fumbled the ball (yet again). The bulls are attempting to push to new cycle highs to invalidate our near term bear count. Friday's close into resistance was setting up a short in the #ES_F 2837 area but this morning's breakaway gap invalidates that idea until we get evidence of a turn lower. We will update these scenarios on Twitter as the structures unfold. One chart that has caught my eye of late is the Crude Oil /...

Last week, the SPX and Nasdaq pushed to new cycle highs following the dovish Fed but the rally was NOT confirmed by the broader indices with the Dow, Russell, Banks and Transports all lagging. Weakness in global growth sent yields lower pressuring the Banks while the US dollar remained range bound. Bears need to see downside follow through in the early half of this week. Our fundamental macro backdrop of slowing global growth suffocated by record debt levels (deflation) continues to drive our...

This is an important week for the markets with the FOMC on deck this week. Despite the continued slowing of global growth, the markets are rallying on the Fed's dovish signalling. Any change in rhetoric will likely impact markets negatively. In the meantime the bulls remain in control. Last week, the global equity bull market continued with the Nasdaq and SPX making new cycle highs that have not yet been confirmed by the Dow, Transports, Banks or Russell. The longer these inter-market...

Last week the equity market rally stalled at resistance after likely completing an impulse up from the December lows. The US dollar strength continued into resistance while Bonds rallied sharply. PM's rallied off support late in the week. The SPX / ES reversed lower from our 2800-25 layered resistance zone after likely completing wave (i) / (a) from the December lows. While we do not yet have a clearly impulsive decline, we had a bearish weekly reversal candle and non-confirmation high (last...

The global equity melt-up continues. The series of higher highs and higher lows coupled with impulsive rallies and corrective pullbacks continues unabated. We are patiently awaiting evidence of trend exhaustion and a tradable top but the bulls remain in control. The US dollar remains range bound (compressing) while bonds and PM's finally broke down as expected. Last week US equity markets stalled at resistance but we did not get the bearish reversal confirmation we were looking for. We tweeted...

Last week, global equities extended their gains as the cycle of higher highs and higher lows continued unabated from the December 2018 lows. Once again, rates and the US dollar remained largely unchanged while precious metals may have peaked near term. Commodities continued their respective rallies as Dr Copper broke above key resistance and accelerated higher. Please note that we are still awaiting the CFTC to update its Commitment of Traders data. This has been a broad based bull market...