GLOBAL EQUITY MARKETS – February 17, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. The upper boundary of the flag at 102.3 will act as short-term support during any pullback. The ETF had a volatile week with a gap open lower followed by a sharp rebound to test the minor high at 105.6 levels. Short-term setbacks are part of a steady uptrend.

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INTERIM UPDATE – February 16, 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. These charts will also be included in the weekly update.

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CARVANA CO (CVNA.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, Carvana Co. is from the watchlist section of the weekly report. It is featuring a possible 6 month-long head and shoulder continuation.

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GLOBAL EQUITY MARKETS – February 10, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. Breakout above 99.5 levels is now followed by completion of a possible bullish flag. Larger scale H&S pattern price target for the ETF stands at 109 levels. The upper boundary of the flag at 102.3 will act as short-term support during any pullback.

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CRYPTOCURRENCIES – February 4, 2024

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BTCUSD reached the upper boundary of trend channel between 47K-48K which acted as a valid resistance. 40K short-term horizontal support is still holding on a weekly closing basis. ETHUSD cleared the upper boundary of the possible rising wedge and it is also holding the support level on a weekly closing basis.
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GLOBAL EQUITY MARKETS – February 3, 2024

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REVIEW

The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. Breakout above 99.5 levels is now followed by completion of a possible bullish flag. This week’s FED event resulted in a pullback to the upper boundary of the bullish flag at 102.3 levels. Breakout above 102.3 levels can push the ETF higher towards 109 levels. Short-term support area is between 99.5 and 102.3.

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AUSTRALIA S&P ASX 50 INDEX

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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, Australia S&P ASX 50 index is from the review section of the weekly report. It is featuring a possible 2 year-long head and shoulder continuation that can resume uptrend to all-time highs.

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GLOBAL EQUITY MARKETS – January 27, 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 both minor resistances at 97.4 and 99.5 levels. The ETF is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. Breakout above 99.5 levels is now followed completion of a possible bullish flag. Breakout above 102.3 levels can push the ETF higher towards 109 levels. Short-term support area is between 99.5 and 102.3.

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CRYPTOCURRENCIES – January 21, 2024

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BTCUSD reached the upper boundary of trend channel between 47K-48K which acted as a valid resistance. ETHUSD cleared the upper boundary of the possible rising wedge which is bullish for the short/medium-term.
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GLOBAL EQUITY MARKETS – January 20, 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 both minor resistances at 97.4 and 99.5 levels. The ETF is clearly above its 200-day average and in a steady uptrend. Long-term H&S bottom price target stands at 109 levels. Breakout above 99.5 levels is now followed by a sideways consolidation between 102.3 and 99.5 levels. 97.4-99.5 area is the strong short-term support area. Breakout above 102.3 levels can complete a possible bullish flag and push the ETF higher towards 109 levels.

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