GERMANY MDAX and S&P SPDR 600 ETF

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section two rectangle chart patterns on Germany’s MDAX Index and S&P SPDR 600 Small Cap Growth ETF.

There are several Global benchmarks that are stuck in a range and looking for direction. In this update I added the Germany’s mid-cap equities benchmark MDAX as well as S&P 600 Small Cap Growth ETF. Germany’s mid-cap MDAX Index recently completed a 5 month-long rectangle chart pattern. MDAX resumed higher after breaking above the upper boundary of its consolidation. Possible price target for the rectangle stands at 28K.

SPDR S&P 600 Small Cap Growth ETF has also well-defined boundaries between 57 and 62 levels. The ETF is possibly forming another rectangle chart pattern. Chart pattern price target for the SPDR S&P 600 Small Cap ETF stands at 68 levels.

(Data as of November 12, 2019). It is important to note that price charts are shown on weekly scale and the last candlestick only contains two days of trading data.

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