The Footsie broke resistance at 6850, signaling an advance to 7200*. Completion of another 13-week Twiggs Money Flow trough above zero indicates strong buying pressure. Reversal below 6700 is unlikely, but would signal a bull trap (and test of 6400/6500).
* Target calculation: 6800 + ( 6800 – 6400 ) = 7200
The DAX is testing resistance at 9800. Breakout would offer a target of 10600*. Recovery of 13-week Twiggs Money Flow above 30% would suggest that the bearish divergence is over. Respect of resistance is less likely, but would warn of another test of primary support at 9000.
* Target calculation: 9800 + ( 9800 – 9000 ) = 10600
Dow Jones Euro Stoxx 50 overcame long-term resistance at 3050/3100 and follow-through above 3240 would confirm a target of 3400*. Recovery above 3180 would signal another advance, but bearish divergence on 13-week Twiggs Momentum suggests weakness. Failure of 3100 would warn of a correction to test 2900/3000.
* Target calculation: 3200 + ( 3200 – 3000 ) = 3400