GLOBAL EQUITY MARKETS – March 28, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) had a sharp rebound. 61 levels was the low that was recorded in late 2018. 64 levels is the lower boundary of a possible upward trend channel. Support area between 61-64 area was broken down and now it is acting as resistance during the rebound. The minor low of 2016 stands as the next support at 49 levels. I will continue to monitor short-term price charts for a possible bottom reversal chart pattern. Patterns I'm looking for are double bottom, rectangle and H&S bottom. A re-test of the lows or another down leg to test 49 levels can offer a short/medium-term bottom opportunity.

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Live Webinar and Q&A with Aksel – Thursday, March 26, 8:30 am mountain

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Dear Tech Charts Members,

We are continuing our Member webinar series with a review of 4 types of breakouts. Type 1 are breakouts that immediately rally to price target. Type 2 are breakouts that pullback to chart pattern boundary after the breakout but do not challenge the previously broken support/resistance. These two breakouts are relatively easier to manage when compared with the breakouts that experience a hard re-test (penetrating the chart pattern boundary after a breakout) and those that fail (Type 3 & Type 4).

We will review all 4 types of breakouts with recent examples and discuss strategies to manage each condition.

Scheduled for: Thursday, March 26th, 8:30 am mountain  (register below)

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GLOBAL EQUITY MARKETS – March 21, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) after testing its 200-day average for a very short period, resumed its downtrend. Sharp sell-offs can be followed by sharp rebounds. It is important where the next consolidation is going to take place. So far the ETF experienced sharp sell-off with out any rebound. Support area between 61-64 area is broken down and will act as resistance during any rebound. The minor low of 2016 stands as the next support at 49 levels. I will continue to monitor short-term price charts for a possible bottom reversal chart pattern. Patterns I'm looking for are double bottom, rectangle and H&S bottom.

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GLOBAL EQUITY MARKETS – March 14, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) after testing its 200-day average for a very short period, resumed its downtrend. Sharp sell-offs can be followed by sharp rebounds. It is important where the next consolidation is going to take place. Price clearly is settling below the 200-day average. The sell-off in 2018 reversed from 61 levels. This week the ETF tested 61 levels and rebounded. 61-64 area is also a support formed by the lower boundary of a possible uptrend channel. Here are the questions I'm looking answers for in the coming weeks: Will the markets find a bottom here? If yes, are we going to see some sort of bottom reversal chart patterns on short-term price charts? A double bottom, a rectangle reversal, a H&S bottom? Is there a possibility of a V-reversal bottom similar to 2018? A V-reversal bottom will be the most difficult to analyze and profit from. In that case I will turn to individual stocks to find orderly consolidations for breakout opportunities.

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GLOBAL EQUITY MARKETS – March 7, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) rebounded to test its 200-day moving average at 76.45 levels. The 200-day average acted as resistance. It is important where the next consolidation is going to take place. If price settles below the 200-day average, forming it as a resistance, we can see further downside similar to late 2018. Until I see price stabilizing above the 200-day average, I will monitor this chart for further weakness and volatility.

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DIAGONAL VS. HORIZONTAL BREAKOUTS

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GLOBAL EQUITY MARKETS – February 29, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed at the minor high at 81.4 levels. The reversal started with a gap opening and took the ETF way below major support levels. The week closed off its lows but the weekly candlestick has done significant damage to short and long-term price charts. We might see a sharp rebound. 74.8 which is the horizontal boundary can act as resistance on the way up. Until I see price stabilizing above the 200-day average, I will monitor this chart for further weakness and volatility. Is a V-bottom reversal in the cards? A good example was in the beginning of 2019.

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GLOBAL EQUITY MARKETS – February 22, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at the minor high at 81.4 levels. The high at 81.4 is not yet broken on the upside and we can still see further sideways consolidation between 77.5 and 81.4.  The 200-day moving average is still far from the price at 76.45 levels. Without much interpretation, we can conclude that the chart of of ACWI ETF is showing a clear uptrend. During pullbacks 76.45-77.5 area will act as support.

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INTERIM UPDATE – February 19, 2020

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I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop during the week and is worth bringing to your attention before the week finalizes. Below are 5 additions to Tech Charts watchlist that may experience breakouts. These charts will also be included in the weekly update.

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GLOBAL EQUITY MARKETS – February 15, 2020

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) tested the minor high at 81.4 levels. On the price chart last one month's price action seems like a pullback to the high seen in 2018 (77.5) and a continuation higher. ACWI ETF is still in a steady uptrend. The high at 81.4 is not yet broken on the upside and we can still see further sideways consolidation between 77.5 and 81.4.  The 200-day moving average is still far from the price at 76 levels. Without much interpretation, we can conclude that the chart of of ACWI ETF is showing a clear uptrend.

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