Tech Charts Year in Review with Aksel – Thursday, May 21, 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 21, 2020, at 8:30 am mountain (register below)

Tech Charts Year in Review – Year Three

  • A study on Chart Pattern Reliability with the available sample data over the past year
  • Chart patterns with horizontal boundaries have been more reliable compared with breakouts from chart patterns with diagonal boundaries
  • Long-term trends impact the number of bullish and bearish chart pattern setups and breakout opportunities
  • H&S tops, H&S bottoms and descending triangles have been reliable with breakouts from well-defined horizontal boundaries
  • Developing breakout opportunities
  • Live Q&A
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GLOBAL EQUITY MARKETS – May 16, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is possibly forming a short-term consolidation after its strong rebound from the March lows. The ETF recovered close to 62% of the decline that started in February. Price came close to its 200-day moving average which is now at 71.7 levels. The ETF is in a downtrend below the 200-day average.

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GLOBAL EQUITY MARKETS – May 9, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continued to hold on to its gains after the ETF experienced a setback. The ETF recovered close to 62% of the decline that started in February. Price came close to its 200-day moving average which is now at 71.9 levels. The ETF is in a downtrend below the 200-day average. I continue to monitor this ETF for a possible short-term chart pattern development.

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GLOBAL EQUITY MARKETS – May 2, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) experienced a setback after the ETF recovered close to 62% of the decline that started in February. Price came close to its 200-day moving average which is now at 72.1 levels. The ETF is in a downtrend below the 200-day average. The chart is in the process of moving to low volatility conditions. It is looking for a balance between demand and supply. A short-term chart pattern that can take the form of a flag/pennant or symmetrical triangle can offer the low risk long/short opportunity. There is no clear chart pattern development on the daily scale price chart.

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INTERIM UPDATE – April 28, 2020

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After rebounding from the lows many indices continued to remain strong. While some individual equities re-tested and even moved to new lows, many formed higher lows and over the past month possible bullish short-term continuation chart patterns. There are several stocks with the same setups. One important thing to mention, those are short-term chart patterns and are more prone to failure than long-term chart pattern developments. Also many stocks that are forming those short-term consolidations are trading below their 200-day averages. So if we see continuations, at best I will treat them as swing trading opportunities and not for position trading. Below are some of those good looking setups.

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Breakout with a pullback – Application of ATR trailing stop-loss

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GLOBAL EQUITY MARKETS – April 25, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continued to hold on to its gains after its rebound that started in Mid-March. From the lows, the ETF recovered 50% of the decline that started in February. The 200-day moving average is far from the price at 72.3 levels. There is no clear chart pattern development on daily and weekly scale price charts. The ETF is in a downtrend below the 200-day average.

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GLOBAL EQUITY MARKETS – April 18, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) recovered above the lower boundary of a possible upward trend channel at 64 levels. Support area between 61-64 area was broken down and now price is above this area. From the lows, the ETF recovered 50% of the decline that started in February. The 200-day moving average is far from the price at 72.6 levels. There is no clear chart pattern development on daily and weekly scale price charts. The ETF is in a downtrend below the 200-day average.

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GLOBAL EQUITY MARKETS – April 11, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) recovered above the lower boundary of a possible upward trend channel at 64 levels. Support area between 61-64 area was broken down and now price is above this area. From the lows, the ETF recovered 50% of the decline that started in February. The 200-day moving average is far from the price at 72.9 levels. There is no clear chart pattern development on daily and weekly scale price charts. The ETF is in a downtrend below the 200-day average.

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GLOBAL EQUITY MARKETS – April 4, 2020

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) found resistance at 64 levels, 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. There is a gap opening between 55.5 and 57.2 levels. I will monitor next week, if any weakness develops, the GAP area as a possible support.

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