India Sensex and Singapore STI

Bullish divergence on India’s SENSEX 13-week Twiggs Money Flow suggests a double bottom reversal. Breakout above 17200 would confirm, signaling a bear market rally with a target of 18600*. Note that the primary down-trend would remain downward.

SENSEX

* Target calculation: 17200 + ( 17200 – 15800 ) = 18600

Singapore’s Straits Times Index recovered above short-term resistance at 2650 after a sharp fall over several weeks. We could see a bear market rally to 2900, but the primary trend, as signaled by declining 63-day Twiggs Momentum, remains in a strong down-trend.

Straits Times Index

* Target calculation: 2700 – ( 2900 – 2700 ) = 2500