India’s Sensex Index continues to test support at 17000. A trough above the zero line on 13-week Twiggs Money Flow would indicate strong buying pressure. Recovery above 18000 would confirm a primary advance to 21000*.
* Target calculation: 18000 + ( 18000 – 15000 ) = 21000
The Nifty Index displays a similar pattern. 63-Day Twiggs Momentum holding above zero indicates a primary up-trend. Recovery above 5400 would signal an advance to 6200*.
* Target calculation: 5400 + ( 5400 – 4600 ) = 6200
Singapore Straits Times Index is already in a primary up-trend. Breakout above medium-term resistance at 3040 would confirm an advance to 3300*.
* Target calculation: 2900 + ( 2900 – 2500 ) = 3300
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients.
Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter.
Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit.
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.