China’s Shanghai Composite Index is headed for a test of resistance at 2500. Crossover of 63-day Twiggs Momentum above zero — and breach of the declining trendline — suggest a primary up-trend. Breakout above 2500 would strengthen the signal. But only a higher trough followed by a new high on the index chart would confirm.
India’s Sensex retreated below 20000, while declining 13-week Twiggs Money Flow indicates medium-term selling pressure. Expect a correction to test support at 19000 but long-term buying pressure should ensure that the up-trend continues.
* Target calculation: 19 + ( 19 – 18 ) = 20
Singapore’s Straits Times Index is testing resistance at 3300. Rising 63-day Twiggs Momentum suggests continuation of the primary up-trend. Breakout would signal an advance to 3900*.
* Target calculation: 3300 + ( 3300 – 2700 ) = 3900
Japan’s Nikkei 225 Index is headed for its 2010 high at 11500. A spike in 13-week Twiggs Money Flow indicates strong buying pressure. Breakout is likely and would suggest a primary advance to 14500*.
* Target calculation: 11000 + ( 11000 – 8000 ) = 14000