GLOBAL EQUITY MARKETS – September 29, 2018
REVIEW
On Tuesday we had our members webinar and we discussed symmetrical triangles. We received very positive feedback from our members. A recorded version of the webinar will be uploaded on the website for our premium members. We will inform you via e-mail when it is on the Tech Charts website. During the Q&A section one of our members brought to my attention the possibility of labeling the symmetrical triangle chart pattern on the iShares MSCI All Country World Index ETF (ACWI.O) as an ascending triangle. Ascending triangle has a bullish bias when compared with a symmetrical triangle. Given that the price respected the horizontal resistance at 74.8, I labelled the chart below with the ascending triangle interpretation. It is important to note that Global equities performance as measured by the iShares MSCI All Country World Index ETF is going through an extreme low volatility period. Usually these type of low volatility periods are followed by strong directional movement. Price for the ACWI is still trading in a tight range between 70.8 and 74.8.
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