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
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.
what does the cop. indicator say?
Coppock turned up while below zero in July/August 2012.