The Mars Market Update — Live Research

Last week, equity markets continued to trade sideways to down as the distribution and corrective consolidation continutes. The primary trend remains bullish within a wave 4 corrective consolidation before a final wave 5 of (5) rally into year end. Inter-market divergences continued as the DJIA made new ATH's while the Nasdaq and Russell extended lower for deeper corrective retracements. So far, key risk assets including equities and crypto remain in bullish uptrends but risks are building as...

Last week, equity markets corrected lower towards key trend channel support at the 50 day sma before rebounding strongly. The primary trend remains bullish as we look for a wave 4 corrective consolidation before a final wave 5 of (5) rally into year end. So far, key risk assets including equities and crypto remain in bullish uptrends despite increasingly bearish momentum divergence across the board. The bond markets continue to stair step lower for a test of near term support while the US$...

Last week, equity markets continued to rally to new ATH's before consolidating later in the week. The near term rally appears incomplete as we look for a push to marginal new highs towards 7000 on the S&P. This equity market rally is extremely extended and overdue for a corrective consolidation before a final rally to new ATH's into year end. Near term, we remain wary of the increasingly bearish momentum divergence across the major indices. Bitcoin is at risk of breaking key trend support...

Last week, equity markets traded sideways to down within what appears to be a bullish triangle consolidation. There is no evidence of a long term tradable top as we look for the bull trend to continue higher in wave 5 of (5) once this wave 4 correction is complete. Crypto markets led by Bitcoin continued to decline into key 200 day sma support from where the bulls must make a stand - the potential remains for an ending wave 5 of (5) rally. The bond markets pushed higher for a test of the top...

Last week, the equity market bull trend finally exhausted and reversed sharply lower on a late announcement of further Trump Tariffs. Forewarned is forearmed as we were warning of the extended nature of this rally and bearish momentum divergence. Equities declined sharply on Friday to tag initial support at the 50 day sma from where we would expect to see bulls attempt to make a stand. This anticipated decline is likely only wave (a) down of a larger degree wave 4 corrective retracement. While...

Last week, the bull trend in equity markets continued to extend higher as expected with no evidence of a tradable top. We continue to see this rally as a wave 3 extension while the 50 day sma trend support holds. While we are wary of the extended nature of this rally and alert to a potential reversal, the bull trend remains intact until proven otherwise. The extreme bullish sentiment and deterioraing momentum warns of potential trend exhaustion (but no confirmation). Our base case remains that...

Last week, the bull trend in equity markets extended higher before a near term corrective decline. We continue to see this latest rally as a wave 3 extension while the 50 day sma trend support continues to hold. While we are wary of the extended nature of this rally there is no evidence of a tradable top. It is important to note that this rally into year end could be an ending wave with the risk of a major bear reversal. The bond markets extended lower but remain range bound from a big picture...

Last week, the bull trend in equity markets continued to extend higher with no evidence of a tradable top. We continue to see this latest rally as a wave (v) of 3 extension while the 50 day sma trend support continues to hold. A rising tide lifts all boats as secondary indices (Russell / SOX) also pushed to new ATH's to help confirm the broader indices. The bond markets reversed lower but remain range bound from a big picture perspective. Ideally, we'd still like to see a hard test of major...

Last week, the equity markets continued to extend higher as expected as the wave 3 rally pushed to new ATH's. Bearish momentum divergence continues to build but there is no evidence of a tradable top. The bull trend remains intact while above the 50 day sma trend support. The bond market rally extended marginally higher to test overhead resistance but remains range bound. The US$ remains under pressure across the board and the DXY would still look best with a push to marginal new cycle lows to...