Countries & Regions Archives - Page 182 of 380

February 26, 2014

S&P 500 at 1850

The S&P 500 continues to encounter stout resistance at 1850. The narrow range, however, reflects buyers commitment. Follow-through above 1860 would signal an advance to 1950*. Reversal below 1825 is less likely, but would warn of another correction. The long-term trend remains bullish, with repeated 21-day Twiggs Money Flow troughs above the zero line.

S&P 500

* Target calculation: 1850 + ( 1850 – 1750 ) = 1950

CBOE Volatility Index (VIX) below 20 continues to indicate low risk typical of a bull market.

February 24, 2014April 18, 2024

S&P 500 meets resistance

The S&P 500 encountered stout resistance at 1850, highlighted by today’s false breakout. Follow-through above 1860 would indicate that buyers out-number sellers, signaling an advance to 1950*. Reversal below 1825 is unlikely, but would warn of another correction. The long-term trend remains bullish, with repeated 21-day Twiggs Money Flow troughs above the zero line.

S&P 500

* Target calculation: 1850 + ( 1850 – 1750 ) = 1950

CBOE Volatility Index (VIX) below 20 reflects low risk typical of a bull market.

VIX Index

Dow Jones Industrial Average is weaker. Large bearish divergence on 13-week Twiggs Money Flow warns of selling pressure. Reversal below 16000 would warn of a correction to test primary support at 15400.

Dow Jones Industrial Average

* Target calculation: 16500 + ( 16500 – 15500 ) = 17500

The Nasdaq 100, on the other hand, remains bullish. Reversal below 3600, especially after last week’s doji star candlestick formation, would warn of a test of primary support at 3400. Decline of 13-week Twiggs Money Flow below its recent low would strengthen the signal. Breakout above 3700, however, would offer a target of 3800*.

Nasdaq 100

* Target calculation: 3600 + ( 3600 – 3400 ) = 3800

February 21, 2014

London Calling…..

The strong advance for Sterling, over the last 8 months, is likely to encounter substantial resistance at the 2011 and 2009 highs of $1.68 and $1.70 respectively. Resistance also coincides with the target of $1.68* from the double bottom completed in September 2013. Breakout above $1.70 would offer a long-term target of $1.90, but reversal below $1.66 would test support at $1.62 in the short-term.

FTSE 100

* Target calculation: 1.58 + ( 1.58 – 1.48 ) = 1.68

The FTSE 100 is likely to break out above resistance at 6850 after a higher trough on 13-week Twiggs Money Flow flagged a surge in buying pressure. Target for an advance is 7200* but expect committed sellers at the 1999 high of 7000. Retreat below primary support at 6400 is most unlikely, but would warn of a primary down-trend.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

February 20, 2014

ASX 200 hits resistance

After a healthy start to the day, the ASX ran into poor Flash Manufacturing PMI out of China. The Aussie Dollar fell through 90 cents, suggesting another test of 87 (US cents).

Aussie Dollar

The ASX 200 faces strong resistance at 5400 to 5450. Rising 21-day Money Flow indicates medium-term buying pressure and breakout above 5450 would confirm a primary advance. But reversal below 5400 would warn of another correction; follow-through below 5350 would confirm.

ASX 200

* Target calculation: 5350 + ( 5350 – 5050 ) = 5650

February 20, 2014

Nasdaq big picture

You don’t often see buying pressure as good as the Nasdaq 100, with 21-day Money Flow holding above zero for more than a year (posted in response to a reader comment that the Nasdaq breakout looked phony).

Nasdaq 100

February 17, 2014

ASX 200 resurgent

The ASX 200 is testing resistance at 5380. Rising 21-day Twiggs Money Flow indicates medium-term buying pressure. Follow-through above 5400 would suggest another advance. Respect of 5380 is unlikely, but would warn of another correction.

ASX 200

* Target calculation: 5350 + ( 5350 – 5050 ) = 5650

ASX 200 VIX below 15 indicates low market risk.

February 17, 2014

Singapore back from the brink

Singapore’s Straits Times Index recovered above primary support at 3000. Reversal below 3000 would signal a primary decline. 13-Week Twiggs Momentum holding below zero continues to suggest a down-trend. Breakout above 3180 is unlikely at present, but would signal a primary advance to 3300*.

Straits Times Index

* Target calculation: 3150 + ( 3150 – 3000 ) = 3300

February 17, 2014

India: Sensex tests 20,000

India’s Sensex continues to test primary support at 20000. Recovery above 20500 would indicate another test of 21500. A 13-week Twiggs Money Flow trough above zero would strengthen the signal. Failure of support, however, would warn of a primary down-trend.

Sensex

* Target calculation: 21000 + ( 21000 – 20000 ) = 22000

February 17, 2014

Nikkei warning

A weakening Dollar/Yen exchange rate is hurting Japanese stocks. The Nikkei 225 is testing support at 14000 after breach of the rising trendline indicated weak momentum. Reversal of 13-week Twiggs Money Flow below zero warns of a primary down-trend. Failure of 14000 would strengthen the signal, while breach of 13200 would confirm. Recovery above 15000 is unlikely, but would suggest another advance.

Nikkei 225

* Target calculation: 16000 + ( 16000 – 14000 ) = 18000

February 17, 2014

China hesitant but Hang Seng bullish

China’s Shanghai Composite Index recovered above 2100, suggesting another test of 2250. 13-Week Twiggs Money Flow oscillating around zero reflects indecision typical of a broad consolidation. Breakout above 2250 would complete a reversal, but breach of 1950 remains as likely and would warn of a decline to the 2008 low of 1700*.

Shanghai Composite Index

* Target calculation: 1950 – ( 2200 – 1950 ) = 1700

Hong Kong’s Hang Seng Index displays a large bullish ascending triangle on the monthly chart. Breakout above 24000 is more likely and would signal a primary advance, but reversal below the rising trendline would warn of a decline to 20000.

Hang Seng Index