The ASX 200 reversed below its secondary rising trendline, warning of a correction. Oscillation of 21-day Twiggs Money Flow above zero, however, continues to indicate long-term buying pressure.
A correction would be likely to test the primary trendline and support at 5300. Another 13-week Twiggs Money Flow trough above zero would strengthen conviction of a bull market.
ASX 200 VIX rose to 13, but still indicates low risk typical of a bull market.
I think you are very professional. Pieter Moeskops PhD, BSc, DIC, SAFin, MAusIMM-mining professional, analyst and investor (SMSF)–aged 70–still working.
Hi Colin,
Excellent stuff (always).
I like the TMF indicator; but puzzled about the different number of periods that you use (13 or 21) on the daily / weekly charts. Could you explain the logic there please?
Many thanks
RB
Hi Robert, I use 13-week for the long (primary) time frame and 21-day for the medium-term (secondary) time frame. You can, however, take long signals from the 21-day — where troughs or peaks repeatedly respect the zero line — and short-term signals are still evident from the direction of the 13-week.