Dow Jones Europe Index respected resistance at 260, suggesting another correction. Declining 13-week Twiggs Money Flow indicates medium-term selling pressure; but a trough that respects the zero line would signal a primary up-trend. Respect of support at 240 would also suggest an up-trend.
* Target calculation: 260 + ( 260 – 210 ) = 310
The FTSE 100 is headed for a test of support at 5600. Respect of support would confirm the primary up-trend, as would a 13-week Twiggs Money Flow trough above zero.
* Target calculation: 5500 + ( 5700 – 5100 ) = 6300