GLOBAL EQUITY MARKETS – May 18, 2024
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. Price is clearly above the long-term average and the uptrend is intact. The ETF with this week's strength breached its minor high at 110.45 levels. 110.45 levels becomes the short-term support. A wider support area is between 106.8 and 110.45 levels. There is no top reversal chart pattern on daily or weekly scale price charts.
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INTERIM UPDATE – May 15, 2024
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 from different regions in single equities. These charts will be covered in the weekly report as well.
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Tech Charts Year in Review with Aksel – Thursday, May 16th, 830 am mountain
- A study on Chart Pattern Reliability with the available sample data over the past year.
- H&S continuation has been the most reliable chart pattern over the past year. Rectangle continued to be in the top 3 reliable chart patterns.
- Detailed statistics on different types of breakouts.
- The impact of different market cycles on chart pattern opportunities.
- Live Q&A
