ROLFBERTSCHIS CHARTOUTLOOK

September 21, 2026 • Edition 34

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GLOBAL EQUITIES – MSCI ACWI World Equal Weight Index (.MIWD0000EPUS) The Equal Weight World Index reached a high of 4870 on August 27 and subsequently entered a correction phase. The current decline is likely to test the critical support levels at 4665 and 4637. A break below 4630 would signal further weakness to 4490. Should the World index break below 4490, the next support levels are at 4280 and 3910. I would sell if the support levels are broken. The lower chart shows the relative performance of the Equal Weight World Index versus the Cap Weight World Index. The Equal Weight World Index continues to underperform its Cap Weight counterpart. The continued underperformance of the Equal Weight World Index indicates that the strength of the global equity market remains concentrated in the largest- MSCI Equal Weight World relative to MSCI World Index capitalization stocks. This reflects a lack of broad market participation and suggests that the current uptrend is not being supported evenly across the market.