CHINA SSE COMPOSITE INDEX

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China SSE Composite has been forming an 8 month-long rectangle chart pattern. Over the past two weeks the index breached the upper boundary of its multi month-long rectangle chart pattern standing at 3,300 levels. The daily close above 3,350 levels confirmed the breakout with a possible chart pattern price target of 3,560 levels. Breakouts from chart patterns with horizontal boundaries are reliable. After a confirmed breakout, resistance becomes support. Strong support for the index now stands at 3,300 levels. Positive momentum in Chinese equities can boost Emerging Markets performance. (Learn more: Video Tutorial – Rectangle)

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GLOBAL EQUITY MARKETS – September 2, 2017

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The iShares MSCI ACWI ETF seeks to track the investment results of an index composed of large and mid-capitalization developed and emerging market equities. It is a good measure of Global equity markets performance. The ETF is listed on the Nasdaq Stock Exchange. Over the past few weeks, the Global Equity Markets report reviewed the ACWI ETF and highlighted the importance of the multi-month uptrend and the trend line support. Last two week’s price action rebounded from the steep trend line support at 66.10 levels and challenged the all-time highs. The long-term up trend is still intact and the multi-month trend support has become even more important. The more a technical level is tested the more important that level becomes. For now, our conclusion is that, the benchmark for global equity market performance is still moving higher with an important support (minor low and multi-month upward  trend line) standing at at 66.10 levels.

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SUPPORT & RESISTANCE

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A stock (ETF, Index etc.) price is either in a trending phase or in a consolidation period. During strong trend periods prices move uninterrupted from one price level to another. During consolidations prices move in both directions without producing any meaningful or sustained price change and will form well-defined support and resistance areas on the charts. A support range represents a concentration of demand, and a resistance range represents a concentration of supply.

A resistance level is an approximate level or fairly well-defined price range, where previously advancing stock meets resistance in the form of strong selling. A support level is an approximate level or price range where a preceding decline meets support, in the form of strong buying. A possible explanation for appearance of such well-defined price boundaries in the form of support and resistance can be the fact that the public tend to remember previous levels the stock has traded.

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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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