Posted on by Colin Twiggs

S&P 500 hesitates

The S&P 500 hesitated at its upper trend channel. Follow-through below 1460 would indicate a test of the lower channel and support at 1400. Bearish divergence on 21-day Twiggs Money Flow continues to warn of a correction.

S&P 500 Index

* Target calculation: 1420 + ( 1420 – 1280 ) = 1560

4 Replies to “S&P 500 hesitates”

  2. Basis an RSI (14/C or 21/C) there is no divergence so there must be considerable differences between it and your Money Flow Index. Similarly with the Metastock Money Flow. Any comment on the differences

    1. RSI compares closing price to the previous close while Twiggs Money Flow compares closing price to the daily range before adjusting for volume.
      Not sure of MMF.

  3. A temporary stall is not unexpected. The target of 1560 seems realistic in light of the current optimism re: the economy.

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