Dow Jones Industrial Average is testing resistance at 12300. Breakout would signal a primary advance to 13400 and an end to the bear market. Rising 63-day Twiggs Momentum is encouraging but will only be significant if retracement respects the zero line.
* Target calculation: 12300 + ( 12300 – 11200 ) = 13400
The Nasdaq 100, however, displays a large bearish divergence on 13-week Twiggs Money Flow, warning of selling pressure. Reversal below 2040 would confirm a primary down-trend. Breakout above 2400 is less likely, but would suggest an advance to 2800*.
* Target calculation: 2400 + ( 2400 – 2000 ) = 2800
You could also draw a pennant/triangle by adding a trend line on the lows of the Trigg Money Flow. This could show the chance of a break to the upside.
Also note the divergence from Aug-September where the NASDAQ made lower lows, but the Trigg Money Flow did not.
Some indications of upside potential even in NQ?
Please excuse… Twigg Money Flow, was thinking of high school maths for a second