The ASX 200 is retracing today to test short-term support at 4900 but medium-term buying pressure — as indicated by 21-day Twiggs Money Flow troughs above zero — suggests a test of 5000.
Rising 63-day Twiggs Momentum suggests continuation of the primary up-trend. Breakout above 5000 would offer a long-term target of 6000*.
* Target calculation: 5000 + ( 5000 – 4000 ) = 6000
what does the cop. indicator say?
Coppock turned up while below zero in July/August 2012.