Tech Charts Year in Review with Aksel – Thursday, May 19, 830 am mountain

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Dear Tech Charts Members,

Tech Charts Year in Review. Aksel will compare the before and after of charts shared with Members over the last year. As always, we'll end the webinar with a live Q&A.

Scheduled for: Thursday, May 19, 2022, at 8:30 am mountain (register below)

Tech Charts Year in Review – Year Five

  • A study on Chart Pattern Reliability with the available sample data over the past year.
  • Rectangle has been a reliable chart pattern with the H&S variations. Examples and studies on those reliable patterns.
  • Detailed statistics on different types of breakouts. 
  • The impact of different market cycles on chart pattern opportunities.
  • Live Q&A
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GLOBAL EQUITY MARKETS – May 14, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average and the minor low at 91.7 levels. The 200-day average is currently at 98.5 levels. Breakdown below the minor low resumed the downtrend. 91.7 levels becomes the resistance. The weekly scale price chart formed a long lower shadow with this week's close and could be the first sign of a short-term bottom. There is no clear bottom reversal chart pattern on daily and weekly scale price charts.

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CRYPTOCURRENCIES – May 9, 2022

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The last report on cryptocurrencies read make or break week for many crypto pairs. So many chart were at inflection points. These was a bullish case to be made if right shoulders developed on chart. On the other hand if they failed, there were many chart that were waiting to break down well-defined horizontal supports. Right shoulders never developed and many horizontal setups broke down. Charts below are an update on those developing downtrends and also additional fresh setups.

 

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GLOBAL EQUITY MARKETS – May 7, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. To get bullish on Global Equities, I want to see the ETF clearing the 200-day average and settling above it. Until that happens I will view this as part of larger scale complex correction. The 200-day average is currently at 99.2 levels. Breakdown below the lows can result in a continuation of the downtrend. This week the ETF closed below the minor low at 91.7. Unless we see a sharp reversal with a long white daily candle that closes above 91.7, I will expect continuation of the downtrend. A sharp reversal can result in a rebound towards the 200-day average.

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GLOBAL EQUITY MARKETS – April 30, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. To get bullish on Global Equities, I want to see the ETF clearing the 200-day average and settling above it. Until that happens I will view this as part of larger scale complex correction. The 200-day average is currently at 99.7 levels. The ETF failed to form the right shoulder of a possible reversal which led the price to test the previous lows at 91.7 levels. Breakdown below the lows can result in a continuation of the downtrend. On the weekly scale chart, price is inside the channel and also clearly below the long-term average, exposing the ETF to further downside if the minor lows are broken down.

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CRYPTOCURRENCIES – April 24, 2022

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As I go through several cryptocurrency pairs I'm seeing many at inflection points. Inflection point is a level right before a major shift in demand and supply and as a result followed by a trend period. I'm not sure if we are going to see a strong uptrend or a downtrend in the crypto space. However, below chart will offer a good game plan whichever direction markets move in the coming weeks.

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GLOBAL EQUITY MARKETS – April 23, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) once again fell below its 200-day average. To get bullish on Global Equities, I want to see the ETF clearing the 200-day average and settling above it. Until that happens I will view this as a counter trend rebound. We can see more sideways consolidation around the 200-day average until the index finds direction. The 200-day average is currently at 100 levels. The bullish case would be the formation of a H&S bottom reversal with the right shoulder being in progress. I would give few more days for the ETF to prove the bullish thesis wrong. An upward move towards 100-101.7 area will increase my confidence on the H&S bottom reversal development. Failure to form a right shoulder and continued weakness will establish the downtrend below the 200-day average for the coming months.

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GLOBAL EQUITY MARKETS – April 16, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is consolidating around its 200-day average. To get bullish on Global Equities, I want to see the ETF clearing the 200-day average and settling above it. Until that happens I will view this as a counter trend rebound. We can see more sideways consolidation around the 200-day average until the index finds direction. The 200-day average is currently at 100 levels. The bullish case would be the formation of a H&S bottom reversal with the right shoulder being in progress. An upward move towards 100-101.7 area will increase my confidence on the H&S bottom reversal development.

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CRYPTOCURRENCIES – April 10, 2022

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When I start seeing the same chart pattern on several price charts I call it a developing "theme". Yes, those assets might be correlated but usually I don't see similar price actions taking place on a wide universe. Several altcoins are showing similar reversal chart patterns. Question is: are they going to be successful? I will give those patterns another week to prove themselves. Though I can't wait another week to bring them to your attention. I want our members to follow those patterns the way I'm monitoring them in the following few weeks.

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GLOBAL EQUITY MARKETS – April 9, 2022

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is consolidating around its 200-day average. To get bullish on Global Equities, I want to see the ETF clearing the 200-day average and settling above it. Until that happens I will view this as a counter trend rebound. We can see more sideways consolidation around the 200-day average until the index finds direction. The bullish case would be the formation of a H&S bottom reversal with the right shoulder being in progress. Similar H&S bottom reversal labelling can be seen on the S&P 500 and Nasdaq 100 charts featured below.

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