GLOBAL EQUITY MARKETS – July 15, 2017

/0 Comments/in /by

REVIEW

Global equities had a strong performance led by Emerging Market equities and mainly Chinese Large-caps. MSCI Emerging Markets Index breached its decade-long trend line resistance at 1,020 levels. Tech Charts Global Equity Markets reports drew attention to the developing strength in Emerging Asia equities. Following the strong performance of S.Korea, Taiwan, India and Philippines, Chinese equities are also joining the list. An interim update was sent out during the week discussing the strong breakout on the Ishares China Large Cap ETF (FXI). Below charts feature the MSCI Emerging Markets Index (Price index in USD) and the New York Stock Exchange listed iShares MSCI Emerging Markets ETF (EEM).

Read More

INTERIM UPDATE – July 13, 2017

/6 Comments/in /by

ISHARES CHINA LARGE CAP ETF (FXI)

A major chart pattern development is taking place on the Chinese equity ETF that is listed on the New York Stock Exchange. Ishares China Large Cap ETF is possibly completing a major 20 month-long base formation. Multi-month H&S bottom chart pattern has a neckline at 39.65 levels. Breakout attempt in the first quarter of 2017, was followed by a short-term set-back that found support at the neckline. However, during this week we can see that the China Large Cap ETF gained momentum once again. Read More

GLOBAL EQUITY MARKETS – July 8, 2017

/0 Comments/in /by

REVIEW

It has been more than six months that the U.S. small caps are trading in a tight range. One of the well-defined chart patterns the weekly global equity markets report frequently discussed was the ISHARES CORE S&P Small-Cap ETF. IJR has a well-defined trading range between 66.9 and 70.8 levels. The ETFs price is holding above the 18 month-long upward trend line. A directional move should follow soon. The margin between the multi-month trend line and the upper boundary of the 6 month-long rectangle has narrowed. A daily close above 71.80 will confirm the breakout from the 5 month-long rectangle and suggest higher prices. A breach below the 18 month-long trend line can put pressure on the small caps and push prices towards the lower boundary of the rectangle at 66.9 levels.

Read More

GLOBAL EQUITY MARKETS – July 1, 2017

/2 Comments/in /by

REVIEW

Europe's equity benchmarks tested critical long-term resistances. After reversing from the multi-year trend line, Euro Stoxx 50 index pulled back to the lower boundary of its year-long trend channel. If the 2 month-long correction has run its course (still no sign of reversal), Europe's equity benchmark can possibly rebound from the lower boundary of its trend channel. During May 2017 the index tested 3,670 levels and since then retreated towards the lower boundary of its year-long trend channel. Failure to hold at the lower boundary of the trend channel can extend the duration of the corrective period.

Read More

GLOBAL EQUITY MARKETS – June 24, 2017

/13 Comments/in /by

REVIEW

MSCI decision was the main driver for the strong performance of Saudi Arabia stock index during the week. (Read more on this) Strong price action cleared the 5 month-long pennant and resumed the uptrend towards the double bottom price target at 8,250 levels. Saudi Arabia's positive chart pattern developments were discussed in the Interim Update June 19, 2017 and June 3, 2017 report. Double bottom is a bullish reversal chart pattern and pennant is a bullish continuation chart pattern.

Read More

INTERIM UPDATE – June 19, 2017

/0 Comments/in /by

On June 20, global equity index compiler MSCI will announce whether it is putting Saudi Arabia on a list for possible upgrade to emerging market status. Index firm FTSE will decide in September whether to make Riyadh a secondary emerging market. In late 2018, authorities aim to list national oil giant Saudi Aramco in Riyadh, selling about 5 percent in what is likely to be the world's biggest initial public offer of shares. Most fund managers think the index compiler is likely to put Riyadh on its review list on June 20. The actual decision on whether to include Saudi Arabia in MSCI's emerging market index would then occur in mid 2018, and if MSCI follows past procedures, inclusion would occur in mid 2019.

There is an estimated 1.6 trillion USD tracking MSCI EM, as of the end of June 2016. The inclusion assessment is based on the MSCI Market Classification Framework described in the MSCI Global Investable Market Index methodology. For Emerging Markets, the classification depends on two criteria: (1) whether the equity market meets minimum size and liquidity requirements and (2) whether it exhibits accessibility levels for international investors that are sufficient in the context of Emerging Markets.

Read More

GLOBAL EQUITY MARKETS – June 17, 2017

/4 Comments/in /by

Announcements:

1) New educational videos explaining the most analyzed 8 classical chart patterns are uploaded under the Educational Videos page. More videos are being prepared, featuring different outcomes for these chart patterns.

2) A new page featuring all the breakout alerts will be made available (next few days) for members. It will be a helpful tool for following up on the latest chart patterns, sort latest breakout alerts by date and search by ticker.

3) Due to high volume of requests from Tech Charts members, starting from this update I will add reference levels that would possibly negate a chart pattern. Other important labeling will be included on the charts. Below info graphic can be useful to explain the new additions on the charts.

Read More

INTERIM UPDATE – June 16, 2017

/2 Comments/in /by

An interim update on some of the financial stocks might be valuable before the trading week ends. Over the past few weeks Tech Charts Global Equity Markets report drew attention to possible breakouts on Bank NY Mellon and Hartford Financial. Both stocks had strong breakouts from their multi-month long consolidation ranges and they are resuming their uptrends.

Read More

GLOBAL EQUITY MARKETS – June 10, 2017

/3 Comments/in /by

UK election results, FANG (Facebook, Amazon, Netflix & Google) Volatility and U.S. Financial/Banking stocks strength. As much as I followed, these were the market moving topics of the week. It is important to note that U.K. FTSE 100 index broke out to all-time highs from its multi-decade long consolidation and the outlook remains positive in the long-term. Please see June 3, 2017 report for U.K. FTSE 100 Index chart.

Political/geopolitical events should not affect our chart interpretation. In fact, I believe that price action is primary and events are secondary. Price is a leading indicator. I am sure many of you experienced a breakout followed by a major news or event.

Read More

GLOBAL EQUITY MARKETS – June 3, 2017

/12 Comments/in /by

This week's Global Equity Markets report covers several ETFs and global equity indices and single stocks from Developed and Emerging countries. You will find that some of the themes are longer-term and can offer great opportunity once these chart patterns are resolved on the upside. The info-graphic below explains what each label on the charts and section headers stand for. I hope this will make it easier to navigate through the charts.

Read More