CRYPTOCURRENCIES – August 31, 2021

Several crypto currency pairs have completed short-term consolidations on the upside. Volatility was low. These short-term consolidations acted as bottom reversals. Previous resistance levels acted as support and they remain as critical levels to manage risk. In this update I’m reviewing several pairs that formed short-term consolidations after their breakouts. Those short-term consolidations can act as bullish continuation chart patterns; flag or pennant chart patterns.
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GLOBAL EQUITY MARKETS – August 28, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an upward sloping channel. The lower boundary of the channel is forming support at 100 levels. Support area remains between 95.9 and 100 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts. This week the ETF tested the upper boundary of the trend channel on daily scale price chart. Volatility is low on daily scale and a breakout above the upper boundary can result in acceleration of the uptrend.

 

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CRYPTOCURRENCIES – August 22, 2021

Several crypto currency pairs have completed short-term consolidations on the upside. Volatility was low. These short-term consolidations acted as bottom reversals. Previous resistance levels acted as support and they remain as critical levels to manage risk. In this update I’m adding two new breakout opportunities, though they are short-term chart patterns. On other pairs I’m reviewing existing price targets and recent price action.
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GLOBAL EQUITY MARKETS – August 21, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an upward sloping channel. The lower boundary of the channel is forming support at 100 levels. Support area remains between 95.7 and 100 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts. This week the ETF reversed from the upper boundary of the trend channel on daily scale price chart.

 

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RUSSELL 2000 INDEX

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. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the review section Russell 2000 Index.

If you have been struggling with stocks being choppy with frequent false breakouts, the chart below might explain the last several months lackluster performance. Russell 2000 Index has been range bound since February 2021. The index formed a well-defined consolidation range that can act as a bullish continuation as well as a top reversal. Rectangle chart pattern can act as a top reversal. The lower boundary of the well-defined consolidation is forming support at 2,100 levels with the 200-day moving average acting as another layer of support at 2,110 levels. When a well-defined, several times tested horizontal boundary overlaps with a long-term average (my preference is the 200-day EMA), I call these inflection points. Inflection points are important technical areas where we can expect a rebound or a breakdown that can result in a strong directional move. In other words those areas of “change”.

Russell 2000 Index is now very close to the lower boundary of its multi-month long consolidation. Breakdown can target 1,870 levels. A rebound from the strong support area can result in a re-test of the upper boundary at 2,360 levels.


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GLOBAL EQUITY MARKETS – August 14, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is in an upward sloping channel. The lower boundary of the channel is forming support at 99.5 levels. Support area remains between 95.3 and 99.5 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts. The ETF is close to the upper boundary of the trend channel on daily scale price chart.

 

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INTERIM UPDATE (ASIA) – August 13, 2021

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 is the latest addition to Tech Charts watchlist from ASIA equities. This charts will also be included in the weekly update.

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INTERIM UPDATE (AMERICAS) – August 12, 2021

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 is the latest addition to Tech Charts watchlist from AMERICAS equities. These charts will also be included in the weekly update.

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CRYPTOCURRENCIES – August 8, 2021

Several crypto currency pairs have completed short-term consolidations on the upside. Volatility was low. These short-term consolidations can act as bottom reversals. It is important to note that previous resistance levels will now act as support and also critical levels to manage risk. There has been few descending triangle chart patterns that were negated with upward breaks. Rather than focusing on those diagonal boundary breaks, I’m favoring the breakouts through horizontal boundaries.
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GLOBAL EQUITY MARKETS – August 7, 2021

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its price target measured by the symmetrical triangle. Last 3 month’s price action was a choppy uptrend. The ETF is in an upward sloping channel. The lower boundary of the channel is forming support at 99.5 levels. Support area remains between 95 and 99.5 levels. There is no clear top reversal chart pattern on daily and weekly scale price charts. The ETF is close to the upper boundary of the trend channel on daily scale price chart.

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