Short bars on the S&P 500 retracement are a bullish sign, respect of short-term support at 1450 would suggest a strong advance.
The ASX 200 is strengthening in sympathy, despite poor performance of Chinese markets. Breakout above 4400 would strengthen the primary up-trend signal, from rising 63-day Twiggs Momentum. Follow-through above 4450 would confirm.
* Target calculation: 4450 + ( 4450 – 4000 ) = 4900

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.