GLOBAL EQUITY MARKETS – September 22, 2018

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Reminder on Live Webinar

We are continuing our Member webinar series with another classical chart pattern; the symmetrical triangle. Live Webinar and Q&A with Aksel – Tuesday, September 25, 11am mountain. You can register here (Register for the Live Webinar)

REVIEW

Global equity markets performance as measured by the iShares MSCI All Country World Index ETF (ACWI.O) made another attempt this week to break out of its multi-month long sideways consolidations. The weekly close was at the high of the weekly candlestick. This week’s price action is possibly a “secondary completion” of the symmetrical triangle chart pattern. Follow through in the following week can resume uptrend towards 2018 high levels.

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Live Webinar and Q&A with Aksel – Tuesday, September 25, 11am mountain

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Dear Tech Charts Members,

(Register below)

We are continuing our Member webinar series with another classical chart pattern; the symmetrical triangle. Symmetrical triangle is a chart pattern with diagonal boundaries and it is a neutral chart pattern. It can form as a reversal as well as a continuation chart pattern. A symmetrical triangle forms due to the indecision between buyers and sellers. Over the past couple of months the Global Equity Markets report has featured great chart setups that were identified as well-defined symmetrical triangles.

Scheduled for: Tuesday, September 25th at 11am MST (register below)

The upcoming webinar is dedicated to a thorough discussion on this popular diagonal chart pattern.

  • We will review some of those chart pattern breakouts that were featured in the Global Equity Markets report.
  • We will review some of the failed breakouts and try to analyze what differentiates a successful breakout from a failed breakout.
  • We will look at some of the developing symmetrical triangle chart pattern setups.
  • We will continue to highlight Tech Charts members favorite symmetrical triangle setups in different equity markets. I would like to discuss and share some of the best classical chart patterns that members identified or those charts that members might have questions about.
  • As usual we will have a member Q&A at the end of the webinar.

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SOUTH32 LTD (S32J.J)

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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 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 an head and shoulder continuation chart pattern on South32 LTD listed on the Johannesburg Stock Exchange.

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GLOBAL EQUITY MARKETS – September 15, 2018

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REVIEW

The iShares MSCI All Country World Index ETF (ACWI.O) rebounded from its long-term 200-day average and made another attempt to breakout above the upper boundary of its 6 month-long symmetrical triangle. Friday’s close was around the upper boundary of the multi-month long sideways consolidation. In the last week of August the ACWI ETF breached the upper boundary but failed to trend higher. Renewed strength can help the iShares MSCI All Country World Index ETF breakout from the 6 month-long symmetrical triangle.

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A REVIEW ON ASIAN EQUITY BENCHMARKS

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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 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 part of the review section highlighting chart pattern developments on Asian equity benchmarks.

REVIEW

Over the past few months two major breakdowns were featured on Asia equity markets. Both Korea Kospi 200 Index and Singapore Strait Times Index completed top formations and breached their long-term averages. Breakdowns also breached their multi-year upward trend line supports. Singapore Strait Times Index is now very close to its chart pattern price target at 3,100 levels. However, the index is in a steady downtrend and there is no evidence of a short-term bottom formation.

Korea Kospi 200 Index completed a year-long H&S top chart pattern after breaching the neckline at 304 levels. The index remains below its long-term average and in a steady downtrend. The year-long H&S top has an unmet price target at 273.7 levels.

China SSE 50 Index first breached its long-term average and then broke down its 4 year-long upward trend line at 2,615 levels. Last two month’s consolidation is possibly forming a symmetrical triangle that can act as a bearish continuation chart pattern. Strong resistance area remains between 2,615 and 2,625 levels. Chinese equities are in a steady downtrend.

Two Asian equity benchmarks are holding well despite the weakness in regional equities. Japan’s Nikkei 225 Index and Taiwan ETF (EWT) listed on the New York Stock Exchange, are going through tight consolidations. Charts below feature the 1st month continuation futures price chart for Nikkei 225 Index and the iShares MSCI Taiwan ETF (EWT). Breakout higher from these tight consolidations can be positive for both Japan and Taiwan equities.

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GLOBAL EQUITY MARKETS – September 8, 2018

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REVIEW

Strength in U.S. equities alone was not enough to push the iShares MSCI All Country World Index ETF (ACWI.O) out of its 6 month-long consolidation range. Few days of price action above the chart pattern boundary at 73.9 levels failed to materialize into a strong directional movement. The ETF continues to remain in a range between 70.6 and 73.9 levels. Strong support stands at 70.6 levels.

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GLOBAL EQUITY MARKETS – September 1, 2018

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REVIEW

The iShares MSCI All Country World Index ETF (ACWI.O) breached the upper boundary of its 6 month-long symmetrical triangle. The upper boundary is acting as resistance at 73.9 levels. The jury is still out. We need to see a follow through in the following week to call for a breakout from the lengthy sideways consolidation. This week’s price action can be a premature breakout that can be followed by a secondary completion. More on: Premature & False breakouts

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SCIENCE APPLICATIONS INTL. – H&S CONTINUATION

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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 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 an head and shoulder continuation chart pattern on Science Application International Corp. listed on the New York Stock Exchange.

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GLOBAL EQUITY MARKETS – August 25, 2018

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REVIEW

Once again the benchmark for Global Equity Markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) is challenging the upper boundary of its 6 month-long sideways consolidation. The upper boundary was tested several times over the past few months. Resistance stands at 73.9. The lower boundary of the possible symmetrical triangle is acting as support at 70.5 levels. The ACWI ETF is trading above its long-term (200-day) average. Breakout above the upper boundary can complete the multi-month sideways consolidation and result in a directional move. The ACWI ETF still remains in a trading range.

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BEST BUY CO INC – ASCENDING TRIANGLE

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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 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 an ascending triangle chart pattern on Best Buy Co Inc. listed on the New York Stock Exchange.

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