GLOBAL EQUITY MARKETS – June 3, 2023

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is breaking 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. Friday’s breakout was with a gap opening which I will monitor to see if it will become a break-away gap. Break-away gaps are usually not filled. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Horizontal boundary at 93.3 levels becomes the new support.

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CSW INDUSTRIALS INC (CSWI.O)

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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, CSW Industrials, Inc. is from the watchlist section of the weekly report. It is featuring a head and shoulder continuation chart pattern.

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CRYPTOCURRENCIES – May 28, 2023

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Pullbacks on BTC and ETH reached strong support levels. Recovery from current support areas can resume the uptrends.

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Tech Charts Year in Review – Year Six, May 2023 Webinar

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Tech Charts Year in Review. Aksel compares the before and after of charts shared with Members over the last year followed by a live Q&A.

Tech Charts Year in Review – Year Six

  • A study on Chart Pattern Reliability with the available sample data over the past year.
  • H&S continuation has been the most reliable chart pattern over the past year. Rectangle continued to be in the top 3 reliable chart patterns.
  • Detailed statistics on different types of breakouts.
  • The impact of different market cycles on chart pattern opportunities.
  • Live Q&A

Live questions from Members

  1. Last year, you said 2022 was the most difficult period for breakout trading of the last six years. Many breakout traders implement “sit out” periods where they stop trading in adverse market environments. Others use Progressive Exposure to size up or size down based on how well breakouts are performing. Do you use either of these tactics? 46:42
  2. On type 3 breakouts, are you getting stopped out and then reentering? 48:19
  3. It seems like some of your setups are based on the profit target and where your stop or pattern negation level are placed, that your risk-reward ratio is less than 1. Can you clarify some of those charts and if you’re taking these trades or if you’re charting what you see on the chart? 49:02
  4. Do you use a trailing stop once price action has moved toward your price target favorably to avoid a loss on something that has moved so much in the favorable direction 50:04
  5. Where are you placing your stops on the chart patterns you use? Like Head and shoulders, rectangles, Cup and handles, triangles, etc? 50:50
  6. What are your thoughts on the current formation of the Gold futures chart? I see a confirmed double top on the daily, but the pattern is small. Would you think it’s too small of a pattern to trade? Thoughts on the position of gold’s price? 51:52

Educational videos mentioned in this webinar

Recorded live 05.24.2023

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GLOBAL EQUITY MARKETS – May 27, 2023

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is preparing for its seventh test of the strong horizontal resistance at 93.3 levels. After the 4th test of the strong horizontal resistance at 93.3 levels price pulled back to the 200-day average and started consolidating above it. Latest consolidation can be the handle of a 3 month-long cup & handle continuation chart pattern that can increase the bullish conviction of the larger scale H&S bottom chart pattern. Breakout above 93.3 levels will be very positive for Global equities. The short-term range is between the 200-day average and the horizontal resistance at 93.3 levels. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Consolidation right below the resistance is usually a good sign for a pending breakout.

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ARRAY TECHNOLOGIES INC (ARRY.O)

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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, Array Technologies, Inc. is from the watchlist section of the weekly report. It is featuring a head and shoulder bottom reversal with the right shoulder as an ascending triangle.

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Tech Charts Year in Review with Aksel – Wednesday, May 24, 830 am mountain

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Dear Tech Charts Members,

Tech Charts Year in Review. Aksel will compare the before and after of charts shared with Members over the last year. As always, we’ll end the webinar with a live Q&A.

Scheduled for: Wednesday, May 24, 2023, at 8:30 am mountain (register below)

Tech Charts Year in Review – Year Six

 

  • A study on Chart Pattern Reliability with the available sample data over the past year.
  • H&S continuation has been the most reliable chart pattern over the past year. Rectangle continued to be in the top 3 reliable chart patterns.
  • Detailed statistics on different types of breakouts.
  • The impact of different market cycles on chart pattern opportunities.
  • Live Q&A

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GLOBAL EQUITY MARKETS – May 20, 2023

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is looking for direction. After the 4th test of the strong horizontal resistance at 93.3 levels price pulled back to the 200-day average and rebounded. The last pullback can be the handle of a 3 month-long cup & handle continuation chart pattern that can increase the bullish conviction of the larger scale H&S bottom chart pattern. Breakout above 93.3 levels will be very positive for Global equities. The short-term range is between the 200-day average and the horizontal resistance at 93.3 levels. Cup with handle price target stands at 101 and the larger scale H&S bottom reversal price target is at 109 levels. Consolidation right below the resistance is usually a good sign for a pending breakout.

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CRYPTOCURRENCIES – May 15, 2023

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Pullbacks on BTC and ETH reached strong support levels. Further corrections can put the bullish interpretations in question.

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VISA INC (V.N)

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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 is from the watchlist section of the weekly report. It is featuring a cup & handle continuation chart pattern on Visa Inc.

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