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GLOBAL EQUITY MARKETS – December 8, 2018

Announcement: Dear Tech Charts members, We have included a new feature to Tech Charts website. At the bottom of each report we have incorporated comment platform DISQUS. Previous comment platform was not allowing members to post charts and have discussions. With this improvement, I hope to have detailed discussions with our members and possibly post breakout alerts related to each week's report. I also hope that Tech Charts members will be able to interact with each other through the DISQUS platform (at the bottom of each weekly report) to share their knowledge on different instruments available to take advantage of breakout opportunities. I hope we will all benefit from this new feature.

REVIEW


Global equity markets performance as measured by the iShares MSCI All Country World Index ETF (ACWI.O) reversed from its long-term moving average resistance at 71.3 levels. In the beginning of October the index broke down its 7 month-long consolidation and the 200-day moving average. Since then the ETF has challenged the strong resistance area between 71 and 71.5 levels but failed to breach higher. This week's sell-off pulled the ACWI ETF towards the minor support at 66.5 levels. Failure to hold above the short-term support can send the index to the next level at 63 levels. The iShares MSCI All Country World Index ETF is trading below its long-term average and is in a downtrend.

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ALLETE INC (ALE) – CUP & HANDLE

Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features a year-long cup with handle continuation chart pattern on ALLETE INC listed on the New York Stock Exchange. In the second part of the blog post you can watch a video tutorial on cup & handle continuation chart pattern.

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GLOBAL EQUITY MARKETS – December 1, 2018

REVIEW


The iShares MSCI All Country World Index ETF (ACWI.O) continues to consolidate below its long-term average at 71.4 levels. 71-71.4 area will act as strong resistance for the Global equity benchmark. Over the past few months the ETF has been consolidating in a wide range between 66.5 and 71 levels. I use the 200-day moving average as a trend filter. Price action below the long-term average warns us of possible weakness (in the form of further choppy price action or continued downward momentum).

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