The FTSE 100 broke through resistance at 5750 to signal a primary up-trend. Rising 13-week Twiggs Money Flow indicates medium-term buying pressure. Target for the initial advance is 6300*.
* Target calculation: 5700 + ( 5700 – 5100 ) = 6300
Germany’s DAX also signals a primary up-trend, with a target of 7400* for the initial advance.
* Target calculation: 6400 + ( 6400 – 5400 ) = 7400
Italy’s MIB index lags behind, but breakout above 17000 would give a similar signal, with a target of 20000*.
* Target calculation: 17000 + ( 17000 – 14000 ) = 20000