GLOBAL EQUITY MARKETS – October 28, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) failed to recover above 93 levels which is now resulting in further weakness below the long-term average. Minor low at 90.2 broke down. Resistance area is between 90.2 and 92.77 levels. Before we see a recovery above the 200-day average, I will monitor Global Equity benchmark with a bearish view, possibly entering into a larger scale correction. The low of the right shoulder will act as the chart pattern negation level for the 10 month-long H&S bottom.
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GLOBAL EQUITY MARKETS – October 21, 2023
REVIEW
The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) rebounded towards the resistance at 93 levels. Previous support at 93 levels acted as resistance. The ETF failed to recover above 93 levels which is now resulting in further weakness below the long-term average. Minor low at 90.2 can act as short-term support. Before we see a recovery above the 200-day average, I will monitor Global Equity benchmark with a bearish view, possibly entering into a larger scale correction.
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INTERIM UPDATE – October 19, 2023
During the daily charts review I came across those text-book opportunities which I think are time sensitive and fresh opportunities as breakdown candidates. Below are the latest additions to Tech Charts watchlist. These charts will also be included in the weekly update.
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