2022 comes to a close with US equities down ~20% from the all time highs hit on 4 January – at the beginning of the year: We are still in the downtrend channel and need to see a break-out above 4100 (the prior pivot high) before we might consider suggesting a possible reversal to a […]

Merry Christmas from Dunedin in New Zealand where I finally have a decent enough internet connection to write this post. Following a relatively volatile but eventually uneventful week from US equities going into the Christmas holidays: we are still sitting in the 2022 downtrend channel at the 38.2% retracement level from the early December pivot […]

US equities continued to slide lower this week: and price is firmly entrenched back in the downtrend channel that we have been in all of 2022. I can still envisage a retest of the 3600 level at least before we might see another technical reversal. US equities were, in fact, the worst performing asset class […]

US Equities pulled back a bit this week, closing down ~3.5% from last week’s close: In last week’s review I noted that prices had moved outside the 1 Standard Deviation upper boundary of the long-term downtrend channel. However, I also pointed out that, technically, there was potential resistance in that area and that it would […]