The S&P 500 is retracing to test medium-term support at 1400 on the daily chart. Respect would signal an advance to 1475, while failure would indicate a test of primary support at 1350. Reversal of 21-day Twiggs Money Flow below zero would warn of selling pressure, but a higher trough (above/below zero) would suggest continuation of the advance to 1475.
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.