The Footsie is headed for another test of 6850/6900. Respect of the zero line by 13-week Twiggs Money Flow indicates healthy long-term buying pressure. Breakout would offer an intermediate target 7300*. Reversal below 6650, however, would warn of a correction to 6400/6500.
* Target calculation: 6900 + ( 6900 – 6500 ) = 7300
Germany’s DAX is testing support at 9600. Breach would warn of a correction to 9000 — and a weakening primary up-trend. Declining 13-week Twiggs Money Flow indicates selling pressure, but respect of the zero line would suggest the primary trend is intact. Breach of primary support at 8900/9000 is unlikely, but would signal a primary down-trend. Recovery above 10000 is also unlikely at present, but would indicate an advance to 10500*.
* Target calculation: 9750 + ( 9750 – 9000 ) = 10500