Live Webinar and Q&A with Aksel – Thursday, December 5, 2024, 8:30 am Mountain

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Dear Tech Charts Members,

We continue our Member webinar series with chart pattern reliability statistics for the Year to Date and past 7 years. We plan to have an interactive and open discussion session to answer members’ questions on markets and specific charts of interest. Please send your charts and questions to aksel@techcharts.net, and I will add them to the webinar discussion points. We discuss specifically rectangle and H&S continuation chart patterns and how to take advantage of breakouts.

Scheduled for: Thursday, December 5, 8:30 am Mountain (register below)

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GLOBAL EQUITY MARKETS – November 30, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the horizontal resistance at 116.7 levels and possibly completed a 2 month-long cup & handle continuation with a price target of 128 levels. Strong support area for ACWI ETF is between 113 and 116.7. Short-term support is the horizontal pattern boundary at 116.7 levels. Uptrend is intact. The ETF continues to remain sideways above the horizontal support at 116.7 levels. Breakout above the minor high at 121.85 can resume the uptrend towards the cup & handle price objective.

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CRYPTOCURRENCIES – November 24, 2024

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BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale. Monitoring the chart for a strong monthly close and a breakout signal on long-term charts.  ETHUSD breaks the upper boundary of its short-term consolidation at 2,800 levels and pushes above the year-long average though still way below 4,000 levels. ETHBTC accelerates lower. Breakdown below the horizontal support is resulting in ETH underperformance.
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GLOBAL EQUITY MARKETS – November 23, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the horizontal resistance at 116.7 levels and possibly completed a 2 month-long cup & handle continuation with a price target of 128 levels. Strong support area for ACWI ETF is between 112.69 and 116.7. Short-term support is the horizontal pattern boundary at 116.7 levels. Uptrend is intact. The ETF continues to remain sideways above the horizontal support at 116.7 levels.

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GLOBAL EQUITY MARKETS – November 16, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the horizontal resistance at 116.7 levels and possibly completed a 2 month-long cup & handle continuation with a price target of 128 levels. Strong support area for ACWI ETF is between 112.33 and 116.7. Short-term support is the horizontal pattern boundary at 116.7 levels. Uptrend is intact. Strong rebound from support could not materialize into a directional move. The ETF continues to remain sideways above the horizontal support at 116.7 levels.

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CRYPTOCURRENCIES – November 10, 2024

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BTCUSD cleared the horizontal resistance at 73.7K to new all-time highs. Clear breakout signal from the broadening pattern on weekly scale.  ETHUSD breaks the upper boundary of its short-term consolidation at 2,800 levels and pushes above the year-long average. ETHBTC trading below support at 0.05 levels. Breakdown below the horizontal support is resulting in ETH underperformance.
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RUSSELL 2000 INDEX (RUT)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Russell 2000 Index is from the review section of the weekly report. It is featuring a possible ascending triangle setup that is completing after several tests of pattern boundary.

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GLOBAL EQUITY MARKETS – November 9, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the horizontal resistance at 116.7 levels and possibly completed a 2 month-long cup & handle continuation with a price target of 128 levels. Strong support area for ACWI ETF is between 111.93 and 116.7. Short-term support is the horizontal pattern boundary at 116.7 levels. Uptrend is intact. The ETF experienced a short-term pullback now followed by a strong rebound and continuation of the existing uptrend.

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INTERIM UPDATE – November 8, 2024

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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 up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist from different regions in single equities. These charts will be covered in the weekly report as well.

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GLOBAL EQUITY MARKETS – November 2, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) cleared the horizontal resistance at 116.7 levels and possibly completed a 2 month-long cup & handle continuation with a price target of 128 levels. Strong support area for ACWI ETF is between 111.52 and 116.7. Short-term support is the horizontal pattern boundary at 116.7 levels. Uptrend is intact. The ETF is experiencing a short-term setback. Failure to hold above the horizontal support can result in a sharp correction towards the 200-day average. In the short-term the ETF might be completing a month-long H&S top which can be the driver of the immediate weakness towards the 200-day average.

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