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GLOBAL EQUITY MARKETS – February 27, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed to hold above the existing uptrend line. The last time the ETF tried to reverse the ongoing trend was in January. That pullback rebounded from the trend line support and resulted in a another attempt to reach new all-time highs. Friday's close was weak and it was below the arguable (because I think trend lines, diagonal boundaries are more prone to failure) trend line support. The ETF is also at the upper boundary of a long-term trend channel. We are possibly entering into a reversion to the mean stage where the ETF can pullback towards the 200-day average similar to Sep-Oct period.
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GLOBAL EQUITY MARKETS – February 20, 2021
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) resumed its uptrend inside the past 2 months trend channel. It is important to note that price is at the upper boundary of the long-term trend channel, a possible resistance area. Breakout above the upper boundary can resume the uptrend with increased momentum. There is no clear reversal chart pattern on the daily scale price chart. Uptrend is intact. I will monitor the daily scale price chart for a possible reversal chart pattern.
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