The S&P 500 is again testing support at 1780; breakout would warn of a correction. Initial support is at 1710, with primary support and the long-term trendline at 1630. Bearish divergence on 13-week Twiggs Money Flow indicates medium-term selling pressure. Recovery above 1810 is now unlikely.
* Target calculation: 1725 + ( 1725 – 1650 ) = 1800
The ASX 200 is already undergoing a correction after breaking support at 5300. Failure of support between 4900 and 5000 would warn of a test of primary support at 4650. Bearish divergence on 13-week Twiggs Money Flow indicates far more severe selling pressure. A fall below zero would suggest reversal to a primary down-trend, but only breach of 4650 would confirm.
today 12 dec xao and xjo found support at 50% fibonaci retracement. whether this is final or not probably will not be told for a few days