The ASX 200 is testing its new support level at 4400/4450. Reversal below 4400 would warn of a test of primary support at 4000. A 13-week Twiggs Money Flow trough above zero, however, would indicate strong buying pressure. Respect of support and follow-through above 4600 would signal an advance to 4900*.
* 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.