GLOBAL EQUITY MARKETS – May 9, 2020
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) continued to hold on to its gains after the ETF experienced a setback. The ETF recovered close to 62% of the decline that started in February. Price came close to its 200-day moving average which is now at 71.9 levels. The ETF is in a downtrend below the 200-day average. I continue to monitor this ETF for a possible short-term chart pattern development.
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GLOBAL EQUITY MARKETS – May 2, 2020
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) experienced a setback after the ETF recovered close to 62% of the decline that started in February. Price came close to its 200-day moving average which is now at 72.1 levels. The ETF is in a downtrend below the 200-day average. The chart is in the process of moving to low volatility conditions. It is looking for a balance between demand and supply. A short-term chart pattern that can take the form of a flag/pennant or symmetrical triangle can offer the low risk long/short opportunity. There is no clear chart pattern development on the daily scale price chart.
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INTERIM UPDATE – April 28, 2020
After rebounding from the lows many indices continued to remain strong. While some individual equities re-tested and even moved to new lows, many formed higher lows and over the past month possible bullish short-term continuation chart patterns. There are several stocks with the same setups. One important thing to mention, those are short-term chart patterns and are more prone to failure than long-term chart pattern developments. Also many stocks that are forming those short-term consolidations are trading below their 200-day averages. So if we see continuations, at best I will treat them as swing trading opportunities and not for position trading. Below are some of those good looking setups.
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