The SENSEX is headed for another test of support at 16000. 13-Week Twiggs Money Flow holding below zero indicates a strong primary down-trend. Failure of support is likely and would indicate a down-swing to 14500*.
* Target calculation: 16000 – ( 17500 – 16000 ) = 14500
Singapore’s Straits Times Index has already broken support at 2650, warning of a down-swing to 2300*. 63-Day Momentum declining while below zero also confirms a strong primary down-trend.
* Target calculation: 2600 – ( 2900 – 2600 ) = 2300