Dow Jones Euro Stoxx 50 — representing 50 leading stocks in the Eurozone — is advancing strongly, with a 13-week Twiggs Momentum trough above zero suggesting a healthy up-trend. Breakout above 2800 offers a target of 3200*. Reversal below 2850 is unlikely, but would warn of a correction to the long-term rising trendline.
* Target calculation: 2850 + ( 2850 – 2500 ) = 3200
The FTSE 100 threatened a primary down-trend after breaching primary support at 6400, but this proved a false break and recovery above 6400 now suggests a rally to 6650/6700. Rising 13-week Twiggs Money Flow indicates medium-term buying pressure. Breakout above 6700 would indicate an advance to 7000*, but reversal below support at 6400, while less likely, would warn of a correction to 6000.
* Target calculation: 6700 + ( 6700 – 6400 ) = 7000