GLOBAL EQUITY MARKETS – January 20, 2018

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REVIEW

Strength in the Chinese equities started with a breakout on the China Large Caps. However, over the past year the performance for the broad market in China as shown by the China SSE Composite Index was not impressive when compared with China Large Cap ETF (FXI). In the second half of 2017, the SSE Composite index completed an 8 month-long rectangle. Following the breakout the index lacked follow through. SSE Composite Index spent the second half of 2017 by pulling back to the chart pattern boundary at 3,300 levels and to the long-term 200 day (40 week) moving average. Since the beginning of the year we have seen a strong performance on the SSE Composite Index with strong back to back weekly gains. Initial price target for the 8 month-long rectangle stands at 3,560 levels. More important than the short-term price target, current technical outlook might be signaling a new multi-month long uptrend developing for the Chinese equities.

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HOW TO START ANALYZING A PRICE CHART

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As part of our member webinars, on the 14th of December 2017 we recorded a live webinar discussing rectangle chart patterns. During the Q&A session one of the Tech Charts members asked a very important question.

The points I discussed were my “AHA moments” in becoming better at analyzing price charts over the past decade. We have prepared an excerpt from the webinar. I hope that it will add value in your learning experience.

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GLOBAL EQUITY MARKETS – January 13, 2018

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Reviewing long-term charts usually helps us to be focused on the big picture. Due to day to day volatility we might lose sight of the forest for the trees. Every now and then I feature these long-term charts to check the status of the bull market in global equities. U.S. equities have been a leader in the bull market. S&P 500 Index was one of the first widely followed U.S. equity benchmark that completed the decade-long consolidation and broke out to all-time highs in 2013. Since then the index has been in a steady uptrend reaching new high ground. Taking the width of the decade long-consolidation and adding it to the breakout level in percentage terms, gives us a price target in the range of 3,000-3,150.

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INTERIM UPDATE – January 11, 2018

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Several Basic Materials stocks are performing well with strong breakouts from lengthy consolidation ranges. January 6, 2018 Global Equity Markets report featured Metalurgica Gerdau SA that is listed in Brasil. The stock is dual listed via depository receipt on the New York Stock Exchange. This week’s strong price action is completing the multi-month long bullish continuation chart patterns on both listings. This interim update added the NYSE listing.

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GLOBAL EQUITY MARKETS – January 6, 2018

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Announcement: I will be speaking at the Dubai Traders Summit organized by MetaStock on April 26th. Over the past decade I worked for institutions in the region, managing funds & portfolios as well as analyzing Emerging and Frontier markets. At this one day event I hope to connect with Tech Charts members & followers, ex-colleagues and fellow traders to discuss some of the best classical chart patterns that helped me in making trading and investment decisions. Registration is free. You can follow this link to register >> DUBAI TRADERS SUMMIT APRIL 26th.

REVIEW

Global Equity Markets started the new year on a high note. Back to back gains pushed the iShares MSCI All Country World Index towards the upper boundary of its upward trend channel. Strong uptrend remains intact. If the year-long upward trend channel is valid, the upper boundary can act as a short-term resistance. There is no chart pattern that would suggest a trend reversal at this point.

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INTERIM UPDATE – January 4, 2018

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Over the past few months Tech Charts Global Equity Markets report analyzed the Europe’s EURO STOXX BANKING INDEX and discussed the possibility of a sideways consolidation that can be identified as a 7 month-long symmetrical triangle. The index remained in a tight range for the past months. 2017 ended with the Euro Stoxx Banking index testing the lower boundary of its multi-month consolidation and the 200-day (40 week) moving average at 129 levels.

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UBS GROUP

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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 and emerging 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 one of several great chart analysis that were highlighted in the breakout alerts section from the previous Global Equity Markets report.

UBS GROUP AG (UBSG.S)

UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. The stock is listed on the Swiss Stock Exchange. Price chart formed a year-long rectangle with the strong horizontal boundary acting as resistance at 17.50 levels. The upper boundary of the rectangle was tested several times over the course of the chart pattern. The daily close above 18 levels confirmed the breakout from the bullish continuation chart pattern with the possible price target of 19.80.

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Rectangle – Bearish Continuation

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GLOBAL EQUITY MARKETS – December 23, 2017

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REVIEW

Over the past few weeks I reviewed the UK FTSE 100 index. I believe it is one of the most important long-term opportunity for global equity investors. There are couple of technical developments that I really like about the UK FTSE 100 index chart. First one is that the index cleared its multi-decade long horizontal resistance and reached all-time highs. Stocks or indices that clear long-term resistances and reach all-time highs enter “uncharted territory”. Uncharted territory is the path of least resistance. In other words there is no previous price level that the index would find resistance.

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