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GLOBAL EQUITY MARKETS – July 29, 2017

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Swiss Market Index is possibly preparing for a breakout from its 2 month-long sideways consolidation. Last 2 month's price action can be identified as a symmetrical triangle and it can act as a bullish continuation. The upper boundary of the triangle stands as resistance at 9,080 levels. Symmetrical triangle possible chart pattern price target stands at 9,500 levels. Swiss benchmark equity index performed better than its European peers. This week's report features three different bullish chart developments on the Swiss financial stocks. Swiss Market Index ETF is available in local (CHF) currency via iShares SMI ETF that is listed on the Swiss Exchange. Also, a USD denominated ETF is listed on the New York Stock Exchange via iShares MSCI Switzerland Capped ETF (EWL).

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GLOBAL EQUITY MARKETS – July 8, 2017

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It has been more than six months that the U.S. small caps are trading in a tight range. One of the well-defined chart patterns the weekly global equity markets report frequently discussed was the ISHARES CORE S&P Small-Cap ETF. IJR has a well-defined trading range between 66.9 and 70.8 levels. The ETFs price is holding above the 18 month-long upward trend line. A directional move should follow soon. The margin between the multi-month trend line and the upper boundary of the 6 month-long rectangle has narrowed. A daily close above 71.80 will confirm the breakout from the 5 month-long rectangle and suggest higher prices. A breach below the 18 month-long trend line can put pressure on the small caps and push prices towards the lower boundary of the rectangle at 66.9 levels.

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