Global Equities Show Promise by Peter Brandt

Equities Show Promise September 10, 2019/by Peter Brandt

Global Equity Markets

The S&P cumulative A/D line has posted a new high. The major indexes (DJIA, S&P 500 and NASDAQ) should be next to post ATHs.

S&P 500 (CME)

I bought the completion of a rectangle on Thursday – and did so with hesitation knowing how frustrated I have been buying strength (over and over and over again) during 2019. The possible inverted H&S pattern has an up-slanted neckline.

China A50 (SGX)

The monthly chart exhibits a possible 4-year ascending triangle. The daily chart is attempting to complete a continuation symmetrical triangle. Factor is long – note the small 2-week pennant on the daily graph (boxed). I have an interest in pyramiding this trade. A close above 13995 is needed to confirm the daily chart triangle.

DAX (Eurex)

The advance on Aug 30 completed a small, but well-defined, inverted H&S bottom. Factor is long. The Sep 3 low is my pivot for protection. I will look to jam stops if the market approaches the 12462 target.

DJIA (CBOT)

I view the weekly chart as a 17-month inverted H&S with a premature breakout in Jul.

TSM (NYSE)

Two weekly charts are shown to display the massive 17-month inverted continuation H&S pattern. The total- return chart is on the right. The prices on this chart include previous dividend payments. The chart on the left is ex-dividend (prices have been reduced by previous dividends). Factor is flat. I will buy a breakout.

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Author Bio:

This article was written by Peter Brandt. An author, financial blogger and commodities trader.

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