Posts

GLOBAL EQUITY MARKETS – April 7, 2018

/2 Comments/in /by

REVIEW

Indecision. Jury is still out. This week's price action is best explained with the help of candlestick patterns definitions. Spinning top is a candlestick with a long upper shadow, long lower shadow, and small real body. One long shadow represents a reversal of sorts; spinning tops represent indecision. The small real body (whether hollow or filled) shows little movement from open to close, and the shadows indicate that both bulls and bears were active during the session. Even though the week opened and closed with little change, prices moved significantly higher and lower in the meantime. Neither buyers nor sellers could gain the upper hand and the result was a standoff. After a long advance or long white candlestick, a spinning top indicates weakness among the bulls and a potential change or interruption in trend. After a long decline (I think this is what we experienced over the past 3 weeks) or long black candlestick, a spinning top indicates weakness among the bears and a potential change or interruption in trend.

Read More

BULLISH CHART PATTERNS ON INDIA EQUITIES

/0 Comments/in /by

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 and emerging 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 an equity listed on the National Stock Exchange of India. MRF LTD was discussed in the latest weekly Global Equity Markets report. Below you will also find a video tutorial explaining cup & handle bullish continuation chart pattern.

Read More

GLOBAL EQUITY MARKETS – March 3, 2018

/3 Comments/in /by

Reminder on Live Webinar

Due to very positive feedback we got for the last webinar on rectangle chart patterns, we are continuing the webinar series with another reliable horizontal chart pattern; the ascending triangle. Live Webinar and Q&A with Aksel - Thursday, March 8, 11am mountain. You can register here (Register for the Live Webinar)

REVIEW

Equity indices that had weak rebound from the lows, tested the same support areas. Japan's Nikkei Index is one of them. On the weekly scale we can see that the upward trend channel is still intact with the support forming at 20,880 levels. On the daily scale price chart (futures price data to capture Friday's close) we can see that the Friday's recovery on U.S. indices helped the Nikkei Futures to form a Doji candlestick at the support. Failure to hold these levels can result in a larger scale correction. In the short-term Japan's Nikkei will try to find support around 20,880 levels and if it succeeds we will possibly label the price action as a double bottom.

Read More