INTERIM UPDATE – August 29, 2017

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When I started expanding the research and investment universe of Tech Charts back in 2011, it was my intention to offer members and followers a broad perspective on global financial markets opportunities from a classical charting point of view. Today, most of the financial markets are accessible via prime brokers, local brokers or dual listed equities (depository receipts) and Exchange Traded Funds (ETFs). Traders and investors find value in diversifying their portfolios in different asset classes as well as different geographies. The info graphic below highlights the importance of having a global perspective in financial markets research  and investment.

Data source: www.visualcapitalist.com

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GLOBAL EQUITY MARKETS – August 26, 2017

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Strong weekly performance of the Chinese SSE Composite Index is worth mentioning in this weeks update. Strength in the Chinese equities helped MSCI Emerging Markets Index to remain resilient during the last few week’s of global equity market weakness. MSCI Emerging Markets index that cleared decade-long trend resistance in July, held on to its earlier gains during the month of  August.

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LOGARITHMIC vs. LINEAR SCALE CHARTING

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The weekly Global Equity Markets report now has a new section; TECH CHARTS STUDY. In this new section I try to answer member’s questions on different aspects of classical charting and technical analysis. Members who are new to classical charting and technical analysis will have another resource other than the educational video series to learn from and apply this knowledge to their own analysis. The latest weekly report’s Tech Charts Study section reviewed the difference between logarithmic and linear scale charting applied on Russell 2000 Index ETF (IWM).

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GLOBAL EQUITY MARKETS – August 19, 2017

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The iShare MSCI ACWI ETF is testing a 17 month-long upward trend line. The more a trend line or a support/resistance area is tested the more important it becomes. The long-term trend line has been tested several times. In the beginning of the week, the global equity benchmark ACWI rebounded from the lower boundary of its 7 month-long trend channel but finished at the same level on Friday. A breakdown below 66.3 levels can push the price towards the long-term trend line support at 65.8. Steep trend lines like the one we are seeing on the ACWI, can’t extend for a long time. The trend needs adjustment, in other words find another low. (I added an S&P 500 chart below to better explain this point). The real test will be at 65.8 levels. Breakdown below that support can result in a correction towards 63 levels. Next week, I will be monitoring 66.3 and 65.8 levels closely. Important support area is between 65.8 and 66.3. I will issue interim updates if there is a change in the technical outlook.

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MSCI ALL COUNTRIES WORLD INDEX ETF

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns (bullish & bearish) 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 and emerging markets, ETF’s and global equity indices. The main focus of the weekly report is to bring member’s attention some of the best examples of classical charting and chart patterns that are likely to resolve in a directional move. This blog post reviews one of several important technical developments in the Global Equity Markets.

ISHARES MSCI ALL COUNTRY WORLD INDEX ETF (ACWI.O)

Last week’s price action did some technical damage on the charts. MSCI ALL COUNTRY WORLD INDEX ETF, a benchmark for global equity market performance gave back three weeks of gains in one weekly bar. The discussion on the financial networks and social media was about buying the dip. The iShares MSCI All Country World Index ETF is listed on the Nasdaq Stock Exchange. 66.3 is the lower boundary of the 7 month-long trend channel for the ACWI ETF. The index rebounded from the strong support once again. Failure to hold this support level can push the price to the next support at 65.5, which is the 17 month-long upward trendline. There is no clear chart pattern forming on the MSCI ACWI ETF that would suggest a top reversal. For those who are looking for a sell signal on the ACWI, the breakdown of the trend channels should give some guidance. In case of further weakness in the global equity markets ( i.e. a breakdown on the ACWI), the weekly Global Equity Markets report featured some of the well-defined bearish chart setups in the global equities and ETFs.

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The Tech Charts Service – Public Webinar

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What is the TechCharts service?

 

Live public webinar recorded May 24, 2017

Please watch this 30 minute webinar where Aksel discusses what the TechCharts service is all about.

Speakers: Aksel Kibar of TechCharts and Peter L. Brandt of Factor LLC 

Webinar Outline

  • Markets covered by TechCharts 1:49
  • Examples of past Global Equity Reports issued — before and after 2:31
  • Chart selection 12:05

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GLOBAL EQUITY MARKETS – August 12, 2017

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This week’s price action did some technical damage on the charts. MSCI ALL COUNTRY WORLD INDEX ETF, a benchmark for global equity market performance gave back three weeks of gains in one weekly bar. The discussion on the financial networks and social media was about buying the dip. 66.3 is the lower boundary of the 7 month-long trend channel for the ACWI ETF. Failure to hold this support level can push the price to the next support at 65.5, which is the 17 month-long upward trendline. There is no clear chart pattern forming on the MSCI ACWI ETF. For those who are looking for sell signals on the ACWI, the breakdown of the trend channels should give some guidance. In case of further weakness in the global equity markets (a breakdown on the ACWI), this week’s report should be helpful in identifying some of the bearish chart setups in the global equities and ETFs.

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INTERIM UPDATE – August 8, 2017

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Industrial metals including Copper, Zinc, Nickel and Aluminum are showing strength and strong price action is now reflected on some of the benchmark indices, ETFs and ETNs that track the performance of the industrial metals. Thanks to several Tech Charts members and twitter followers for bringing to my attention the improving outlook in the metals complex.

Bloomberg Commodity indices are some of the benchmarks that I follow. I reviewed some of the chart developments on these indices (discussing several commodity related stocks) back in 2016. Below are some great chart setups that I think might add value to each trader/investors market analysis. Though one should pay close attention to the leverage, liquidity, issuer, counter party risk and many other factors on these OTC or Exchange-listed instruments.

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SOUTH AFRICA ALL SHARE INDEX

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South Africa equities are possibly entering into a strong uptrend with the completion of a 2 year-long sideways consolidation. Last week’s price action breached the multi-year trend resistance on the South Africa All Share index and pushed the local equity benchmark to all-time highs. Breakouts from multi-year consolidations usually result in multi-month trends. 54,600 levels will remain as strong support. Possible chart pattern price target for the South Africa All Share Index stands at 63,700 levels.

There are several tradable ETFs listed on the local exchange and also on the global exchanges. Below is a chart of South Africa listed ETF.

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GLOBAL EQUITY MARKETS – August 5, 2017

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South Africa equities are possibly entering into a strong uptrend with the completion of a 2 year-long sideways consolidation. This week’s price action breached the multi-year trend resistance on the South Africa All Share index and pushed the local equity benchmark to all-time highs. Breakouts from multi-year consolidations usually result in multi-month trends. 54,600 levels will remain as strong support. Possible chart pattern price target for the South Africa All Share Index stands at 63,700 levels.

There are several tradable ETFs listed on the local exchange and also on the global exchanges. Below is a chart of South Africa listed ETF.

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