Dow Jones Europe Index retreated below 260, indicating a correction to test support at 247. Respect would indicate a healthy up-trend, while a fall below 240 would signal reversal. Rising 13-week Twiggs Money Flow indicates long-term buying pressure, suggesting continuation of the up-trend.
* Target calculation: 260 + ( 260 – 210 ) = 310
The FTSE 100 is also retracing to test support, at 5600. Rising 13-week Twiggs Money Flow indicates long-term buying pressure. Respect of the long-term trendline would signal continuation of the primary up-trend.
* Target calculation: 5700 + ( 5700 – 5100 ) = 6300