A quick recap of the quarterly chart overview from December 2012:
The S&P 500 is headed for a test of its 2000/2007 high at 1550. Declining 63-day Twiggs Momentum and a lackluster economy suggest that resistance is unlikely to be broken. Breach of the rising trendline would indicate a test of support at 1100.
Canada’s TSX Composite Index is gaining momentum. Follow-through above 13000 would indicate another test of 15000.
Germany’s DAX threatens a breakout above 8000. Follow-through above 8200 would confirm a strong primary advance.
The FTSE 100 broke resistance at 6000, suggesting an advance to 7000.
India’s Sensex is testing resistance at 21000. Rising momentum indicates breakout is likely, heralding a fresh primary advance.
Singapore’s Straits Times Index lags behind, but breakout above 3300 is likely and would indicate an advance to 3900.
The Shanghai Composite is headed for a re-test of long-term support at 1800/1750. Rising momentum suggests that a bottom will form at this level. Recovery above 2500 and/or the declining trendline would strengthen the signal.
The ASX 200 is headed for a test of resistance at 5000, supported by rising 63-day Twiggs Momentum. Breakout would signal an advance to 6000, but weakness in China or the US may delay this for some time.
