Dow Jones Euro Stoxx 50 — representing 50 leading stocks in the Eurozone — broke long-term resistance at 3000, while the 13-week Twiggs Momentum trough above zero suggests a healthy up-trend. Expect retracement to test the new support level; respect would signal a primary advance, while failure would test 2850, warning of a bull trap.
* Target calculation: 3000 + ( 3000 – 2500 ) = 3500
The FTSE 100 is also strengthening, with rising 13-week Twiggs Money Flow indicating buying pressure. Breakout above 6700 would indicate an advance to 7000*. Reversal below support at 6400 is unlikely, but would warn of a primary down-trend.
* Target calculation: 6700 + ( 6700 – 6400 ) = 7000