GLOBAL EQUITY MARKETS – December 2, 2017

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The XAU is a capitalization-weighted index of thirty precious metal mining companies that has been traded on the Philadelphia Stock Exchange since 1983. As its name suggests it includes both gold and silver mining companies. In order to track gold and silver mining companies performance in an index there are several options available for investors, but the two most watched indices are: the NYSE Arca Gold BUGS (Basket of Unhedged Gold Stocks) Index (called the HUI Index) and Philadelphia Gold and Silver Index (called the XAU Index). Below charts feature the Philadelphia Gold and Silver Index and the NYSE Arca Gold BUGS Index.

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GLOBAL EQUITY MARKETS – November 25, 2017

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The MSCI Domestic U.S. Real Estate Index and related REIT ETFs are going through a lengthy consolidation. Breakouts from tight and lengthy consolidations are usually followed by strong directional movement. Price index respected the boundaries of the 9 month-long symmetrical triangle. Both boundaries were tested several times over the past months. The upper boundary of the possible symmetrical triangle is acting as resistance at 1,180 levels and the lower boundary as support at 1,140 levels. A decisive breakout above 1,180 levels will confirm the symmetrical triangle as a bullish continuation with a possible chart pattern price target of 1,255 levels. Below you can find related ETFs to take advantage of a possible directional movement on the MSCI Domestic US Real Estate Price Index.

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GLOBAL EQUITY MARKETS – November 18, 2017

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Emerging Markets equities continue to remain strong. A widely followed benchmark for the Emerging Markets equity performance, MSCI Emerging Markets index resumes its multi-month uptrend in a steady parallel trend channel. Last one month's short-term consolidation can be identified as a possible flag; a bullish continuation chart pattern. The lower boundary of the flag at 1,100 level will act as a short-term support. Earlier in July 2017, the MSCI Emerging Markets index cleared a decade-long trend line resistance at 1,015 levels as shown on the monthly scale price chart.

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GLOBAL EQUITY MARKETS – November 11, 2017

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During established up trends pullback to the long-term averages are considered to be low risk entry points. A widely followed trend indicator is the 200 day moving average. Price action above the 200 day moving average is recognized as an uptrend, while price trading below the 200 day (40 week) average is considered to be a downtrend. In the last quarter of 2016, the Euro Stoxx Banking index breached its long-term average on the upside what was considered to be the beginning of a possible uptrend. Since then, each pullback found support at the long-term moving average, confirming the steady uptrend. Over the past 5 months, the Euro Stoxx Banking index formed a sideways consolidation that can be identified as a symmetrical triangle. Read More

GLOBAL EQUITY MARKETS – November 4, 2017

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If there is one theme and well-defined similar chart pattern set ups that I need to highlight, it is in the Gold and Silver mining equities. I discussed the developing chart patterns in an earlier Global Equity Markets report and the Interim update. Whenever similar chart patterns are identified on different equities in the same industry and sector, the price action becomes more important. The Tech Charts Watchlist features some of the well-defined chart setups in the gold & mining equities. In a timely manner, we have also added a new video tutorial for members on Descending Triangle as a bearish reversal chart pattern.

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INTERIM UPDATE – November 3, 2017

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French auto industry is showing signs of strength and offering major breakout opportunities. September 30, 2017 Global Equity Markets report featured the breakout from a multi-month base formation on the long-term price chart of PEUGEOT AS. This interim update highlights another major opportunity that is taking place in the same industry.

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INTERIM UPDATE – October 31, 2017

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Students of charts and mainly classical charting principles have to maintain an unbiased view of  the markets. A chart pattern that is identified on a price chart should be the result of pure price action analysis. A global macro view on a commodity or news flow regarding a company can result in second guessing your analysis.  Most of the equity traders, unlike FX and commodity traders are used to looking at charts from the long side. In other words, picking opportunities that are breaking out and trending higher. Over the years, I found the method of looking at charts on an inverted scale very useful in order to challenge any biased view I might have. I believe that applying this technique will help you to overcome any bias during your analysis.

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GLOBAL EQUITY MARKETS – October 28, 2017

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The XAU is a capitalization-weighted index of thirty precious metal mining companies that has been traded on the Philadelphia Stock Exchange since 1983. As its name suggests it includes both gold and silver mining companies. In order to track gold and silver mining companies performance in an index there are several options available for investors, but the two most watched indices are: the NYSE Arca Gold BUGS (Basket of Unhedged Gold Stocks) Index (called the HUI Index) and Philadelphia Gold and Silver Index (called the XAU Index). Below chart features the Philadelphia Gold and Silver Index. Also this week's report highlights several great bearish chart setups on Silver mining equities and ETFs.

Over the past 10 months the Philadelphia Gold and Silver Index has been in a sideways consolidation. The index is possibly forming a symmetrical triangle that can act as a bearish continuation chart pattern. Several bearish chart setups in the junior mining companies and ETFs suggest that mining stocks can come under selling pressure in the following weeks. The lower boundary of the 10 month-long symmetrical triangle stands at 80.3 levels. This week's price action reached the lower boundary of the possible symmetrical triangle. I will monitor the strong support at 80.3 in the following weeks. A breakdown of the multi-month consolidation can result in a downward trend on the XAU index.

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GLOBAL EQUITY MARKETS – October 21, 2017

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This was another week of strong global equity market performance. Benchmark for the global equity market performance, the MSCI All Country World Index ETF (ACWI.O) remains in an uptrend above its 19 month-long trend support. Both the long and short-term charts are showing steady uptrend for the ACWI. At this point there is no clear chart pattern that would suggest a reversal of the strong uptrend.

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