GLOBAL EQUITY MARKETS – July 15, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. The ETF formed a month-long bullish pennant and with this week’s strong move completed the bullish continuation chart pattern, targeting 101 levels possibly as the first objective. During any pullback strong support area remains between 93.3 and 96 levels.

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CRYPTOCURRENCIES – July 9, 2023

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BTC and ETH are holding to their earlier gains. Possible bull flag on BTCUSD can resume existing uptrend.

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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 rectangle chart pattern acting as a bottom reversal on daily scale price chart.

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GLOBAL EQUITY MARKETS – July 8, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. Previous resistance at 93.3 levels becomes the new support. So far price action from October lows can be identified as an uptrend with higher lows. Last one month’s sideways consolidation can become part of a pullback towards the broken resistance levels.

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CURTISS-WRIGHT CORP (CW)

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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, Curtiss-Wright Corporation is from the watchlist section of the weekly report. It is featuring a rectangle chart pattern that can act as a bullish continuation.

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GLOBAL EQUITY MARKETS – July 1, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. This week’s price action was a rebound after the ETF pullback to the broken resistance/support at 93.3 levels. Previous resistance at 93.3 levels becomes the new support. So far price action from October lows can be identified as an uptrend with higher lows.

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CRYPTOCURRENCIES – June 25, 2023

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BTC and ETH rebound sharply from strong support levels. Altcoins are still weak though many pairs remained range-bound.

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GLOBAL EQUITY MARKETS – June 24, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. This week’s price action was a pullback to the broken resistance at 93.3 levels. Previous resistance at 93.3 levels becomes the new support. It will be important for the ETF to stabilize above the support area to resume its uptrend. So far price action from October lows can be identified as an uptrend with higher lows.

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SWEDEN OMX 30 INDEX (OMXS30)

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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, OMX 30 INDEX is from the review section of the weekly report. It is featuring a head and shoulder continuation chart pattern breaking out on daily scale price chart.

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GLOBAL EQUITY MARKETS – June 17, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) broke out of its multi-month long consolidation. Breakout above 93.3 levels is very positive for Global equities. The ETF is possibly completing two chart patterns at the same time, increasing conviction in the recent breakout. The gap was filled during the recent pullback. The ETF started trending higher and quickly moving away from the support area. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Previous resistance at 93.3 levels becomes the new support.

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