India’s Sensex displays a bearish divergence on 13-week Twiggs Money Flow, warning selling pressure. Breach of the secondary trendline — and medium-term support at 19500 — would indicate a correction to 18000.
* Target calculation: 19 + ( 19 – 18 ) = 20
Japan’s Nikkei 225 Index is retreating from its 2010 high of 11500 on the monthly chart. Reversal below 11000 would suggest a correction to 10000. Respect of support, however, would indicate a fresh primary advance.
* Target calculation: 11000 + ( 11000 – 8000 ) = 14000
China’s Shanghai Composite Index was closed last week for Chinese New Year.
Hong Kong’s Hang Seng Index re-opened Thursday, finding support at 23000. Breakout above 24000 would test the 2010 high of 25000. Troughs high above the zero line on 13-week Twiggs Money Flow indicate buying pressure. Reversal below 23000 is unlikely but would warn of a correction.
