The Nasdaq 100 rallied strongly this last week, closing on its revised target of 2750*. Steeply rising 13-week Twiggs Money Flow indicates strong buying pressure. Extension of the rally above the target would be risky and we are likely to see retracement to test the new support level and (long-term) rising trendline at 2400.
* Target calculation: 2400 + ( 2400 – 2050 ) = 2750
The S&P 500 followed through after its breakout above 1370, signaling continuation of the primary up-trend. Expect retracement to confirm support at 1350 before an advance to our target of 1450.
* Target calculation: 1300 + ( 1300 – 1150 ) = 1450
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.
YOUR TMF IS INTERESTING, HOW CAN ONE GET THE INDICATOR VS THE CHALKKIN MONEY FLOW
See Incredible Charts : Twiggs Money Flow v. Chaikin
Are you sure that John Mauldin would have said:
“…which will have equal or greater negative effects then the problem it was…” ?
“then”??? If I though it was a typo – I wouldn’t worry, but American net-culture seems to be increasingly ignorant of the word “than”. Somebody has to give a damn about this stuff. Love your work Colin – Cheers.
It was a straight copy and paste. I guess his spell-checker must have missed it. So did I.