GLOBAL EQUITY MARKETS – March 10, 2018
REVIEW
A strong weekly close and especially a strong Friday price action is positive for Global equities. However, it is still early to conclude that the short term consolidation is over and we are headed to new all-time highs. I think we are still in the consolidation phase and choppy price action can continue for some time.
The long-term trend is upwards for the iShares MSCI All Country World Index ETF (ACWI.O). The benchmark for Global equity market performance continues to remain above its long-term average. In the short/medium-term, the ETF is in a trading range between the all-time high at 77.55 and 70 levels.
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INTERIM UPDATE – March 7, 2018
Reminder on Live Webinar
Due to very positive feedback we got for the last webinar on rectangle chart patterns, we are continuing the webinar series with another reliable horizontal chart pattern; the ascending triangle. Live Webinar and Q&A with Aksel - Thursday, March 8, 11am mountain. You can register here (Register for the Live Webinar)
Over the past few weeks Global Equity Markets report featured some great chart setups in U.S. Regional Banks & Financials. Some of those chart patterns are resolved on the upside and some are about to complete. As we see more strength in the sector I thought it is a good time to review some of those recent chart pattern developments. Read More
GLOBAL EQUITY MARKETS – March 3, 2018
Reminder on Live Webinar
Due to very positive feedback we got for the last webinar on rectangle chart patterns, we are continuing the webinar series with another reliable horizontal chart pattern; the ascending triangle. Live Webinar and Q&A with Aksel - Thursday, March 8, 11am mountain. You can register here (Register for the Live Webinar)
REVIEW
Equity indices that had weak rebound from the lows, tested the same support areas. Japan's Nikkei Index is one of them. On the weekly scale we can see that the upward trend channel is still intact with the support forming at 20,880 levels. On the daily scale price chart (futures price data to capture Friday's close) we can see that the Friday's recovery on U.S. indices helped the Nikkei Futures to form a Doji candlestick at the support. Failure to hold these levels can result in a larger scale correction. In the short-term Japan's Nikkei will try to find support around 20,880 levels and if it succeeds we will possibly label the price action as a double bottom.
