GLOBAL EQUITY MARKETS – May 11, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. Price is clearly above the long-term average and the uptrend is intact. The ETF is testing its minor high at 110.45 levels which can act as short-term resistance. Since October 2023, the index had a strong run and it is totally normal to see consolidation of earlier gains above the long-term average. If the minor high acts as resistance, I will expect a wide consolidation between 105 and 110.45 levels.

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INTERIM UPDATE – May 9, 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 from U.S. equities. Gold single equities have been setting up nicely and the below opportunity can be a play on precious metals strength in coming weeks. These charts will be covered in the weekly report as well.

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GLOBAL EQUITY MARKETS – May 4, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. The ETF breached the lower boundary of the short-term uptrend and this resulted in a pullback towards the support area between 106.8-102.3. Price is clearly above the long-term average and the uptrend is intact. Much deeper correction can target the 200-day average at 101.3 levels. Since October 2023, the index had a strong run and it is totally normal to see consolidation of earlier gains above the long-term average.

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CRYPTOCURRENCIES – April 28, 2024

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BTCUSD is consolidating earlier gains below the strong resistance area between 65K – 68K. Breakout above the upper boundary of a rising trend channel started a runaway price movement towards the resistance area. This week’s price action is resuming the sideways consolidation. This can be a preparation for a breakout to all-time highs. ETHUSD cleared the upper boundary of the possible rising wedge, held the support level and resumed higher with long back to back white candles towards the next resistance at 4,400 levels. Recent pullback found support above 2,800 levels. Uptrend can resume.
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GLOBAL EQUITY MARKETS – April 27, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. The ETF breached the lower boundary of the short-term uptrend and this is now resulting a pullback towards the support area between 106.8-102.3. Price is clearly above the long-term average and the uptrend is intact. Much deeper correction can target the 200-day average at 101 levels. Since October 2023, the index had a strong run and it is totally normal to see consolidation of earlier gains towards the long-term average.

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CHINA SSE 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 charts, China SSE 50 Index and the CSOP China A 50 ETF are from the review and watchlist sections of the weekly report. They are featuring a possible long-term bottom reversal that might be taking place in Chinese equities.

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GLOBAL EQUITY MARKETS – April 20, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. The ETF breached the lower boundary of the short-term uptrend and this is now resulting a pullback towards the support area between 106.8-102.3. Price is clearly above the long-term average and the uptrend is intact. Much deeper correction can target the 200-day average at 100.47 levels. Since October 2023, the index had a strong run and it is totally normal to see consolidation of earlier gains towards the long-term average.

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INTERIM UPDATE – April 18, 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 from China equities. Given the bullish outlook on the SSE50 benchmark, I think it is worth paying attention to individual names. These charts will also be included in the weekly update.

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CRYPTOCURRENCIES – April 14, 2024

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BTCUSD is consolidating earlier gains below the strong resistance area between 65K – 68K. Breakout above the upper boundary of a rising trend channel started a runaway price movement towards the resistance area. This week’s price action is resuming the sideways consolidation. This can be a preparation for a breakout to all-time highs. ETHUSD cleared the upper boundary of the possible rising wedge, held the support level and resumed higher with long back to back white candles towards the next resistance at 4,400 levels. Recent pullback can find support above 2,800 levels.
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GLOBAL EQUITY MARKETS – April 13, 2024

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The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. The ETF breached the lower boundary of the short-term uptrend and this is now resulting a pullback towards the support area between 106.8-102.3. Price is clearly above the long-term average and the uptrend is intact. Much deeper correction can target the 200-day average at 100.47 levels.

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