GLOBAL EQUITY MARKETS – April 12, 2025
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. The correction extended beyond the price objective. Rebound following news effect regarding Tariffs helped the ETF to fill the gap. 115-116.3 area will act as resistance. Further weakness can extend the correction towards 93.3 levels. It is important to note that the ETF is below its 200-day average.
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GLOBAL EQUITY MARKETS – April 5, 2025
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) completed the consolidation as a double top with the latest breakdown below 115 levels. Double top price target was quickly met at 107.2 levels. Given the magnitude of the breakdown with a gap opening and closing at the lows of the week, we can expect the correction to extend beyond the price objective. A short-term support is at 105 levels. Further weakness can extend the correction towards 93.3 levels. 115-116.68 area becomes the new resistance.
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INTERIM UPDATE – April 3, 2025
I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop up during the week and is worth bringing to your attention before the week finalizes. Below are the latest additions to Tech Charts watchlist that are suggesting defense in U.S. equities. Continued weakness in equities can result in specific sectors outperform. These additions can help on the long side.
