GLOBAL EQUITY MARKETS – September 3, 2022
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. Breakout above 87 levels completed a short-term double bottom and the ETF reached the price target of 92.7 levels. The 200-day average acted as resistance at 93.1 levels. The ETF failed to hold above the neckline at 87 levels. There is still the possibility of a H&S bottom reversal, though not with the symmetry between shoulders. Given the weakness below 87 levels, I view the H&S bottom as a lower probability. Price can test the previous low around 81.4 levels. Downtrend is intact below the 200-day average.
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CRYPTOCURRENCIES – August 31, 2022
Several pairs remain range-bound while BTCUSD continues to trend lower after the breakdown of the possible bear flag. In this update we review some of the well-defined horizontal consolidations. Read More
GLOBAL EQUITY MARKETS – August 27, 2022
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) remains below its 200-day average. Breakout above 87 levels completed a short-term double bottom with the price target of 92.7 levels. The 200-day average acted as resistance at 93.1 levels. A text-book H&S bottom reversal can develop if the index completes its pull back around 87 levels to form the possible right shoulder. Such price action will form symmetry between left and right shoulders in both time and price scale. I'm now monitoring how the ETF will perform around 87 levels; the neckline of the previous double bottom.
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