Chart o’ the Day: and then the whole world broke out.

Yesterday I referenced the global breakout we’re seeing on Halftime Report and a few people asked what I meant. I was referencing the MSCI All Country World Index being above the May 2008 highs for the first time in six years. Just an FYI, the ACWI is made up of 44 countries, 23 of which are emerging, but is heavily weighted toward developed markets in line with their dominant market capitalization. It addresses 85% of the world’s investable universe.

Here’s Stephen Suttmeier, chief technician at Bank of America Merrill Lynch, on the global breakout underway for the MSCI All Country World Index. Suttmeier overlays the ACWI advance-decline line (breadth) above the ACWI’s price chart in the pane below. If we’re making new highs, we would want to see new highs in the advancers vs the decliners happen concurrently, for obvious reasons. Taking out new highs with declining participation has historically been one of the great tells of a market top.

That’s not what we’re seeing today.

A new high for the ACWI A-D line is bullish for the ACWI
The technical trend and breadth remain bullish for the MSCI ACWI Index with a new
high for the ACWI advance-decline (A-D) line (2431 stocks) yesterday. This
supports the case for further upside in the ACWI beyond the January/December
highs of 407.95-408.55 toward projected channel and chart resistance near 420-430
(the channel top rises toward 440 into June). Key supports are 400-380.

Screen Shot 2014-02-25 at 10.44.26 AM



New Highs for MSCI ACWI A-D Line
BofA Merrill Lynch – February 25th, 2014

What's been said:

Discussions found on the web
  1. commented on Oct 19

    … [Trackback]

    […] Information on that Topic: […]

  2. Skrota en bil Trollhättan commented on Nov 18

    … [Trackback]

    […] There you can find 81668 more Information to that Topic: […]

  3. pengeluaran hk 2020 commented on Dec 01

    … [Trackback]

    […] Find More on that Topic: […]

  4. rbc account login commented on Dec 03

    … [Trackback]

    […] Find More on to that Topic: […]

  5. situs judi commented on Dec 19

    … [Trackback]

    […] There you will find 92649 additional Information to that Topic: […]

  6. judi bola online 24 jam terpercaya commented on Dec 27

    … [Trackback]

    […] Here you can find 16022 additional Information to that Topic: […]

  7. watches replica commented on Dec 31

    … [Trackback]

    […] Read More Information here on that Topic: […]

  8. best rolex replica commented on Jan 14

    … [Trackback]

    […] There you will find 31221 additional Information to that Topic: […]

  9. Digital transformation solutions commented on Jan 17

    … [Trackback]

    […] Read More on that Topic: […]

  10. wig commented on Jan 23

    … [Trackback]

    […] Here you will find 5316 more Info on that Topic: […]