The Nasdaq 100 is in blue sky territory, having broken clear of its Dotcom high at 4900. Rising troughs on Twiggs Money Flow signal long-term buying pressure. A correction to test the new support level remains likely but this is unlikely to upset the bull market.
The Dow Jones Industrial Average is also in a bull market, headed for a test of 21000. Twiggs Money Flow troughs above zero again indicate strong buying pressure.
The Dow Jones Transport Average is also in blue sky territory having respected its new support level at 9000. The up-trend provides bull market confirmation required by classic Dow Theory.
