Dow Jones Euro Stoxx 50 appears unruffled by Donald Trump’s visit and withdrawal from the Paris Accord, consolidating above support at 3500. Respect is likely and would signal a further advance to the 2015 high at 3800*.
* Target calculation: 3650 + ( 3650 – 3500 ) = 3800
An unintended consequence of Trump’s failure to re-affirm NATO’s Article V, may be that European states learn to rely less on an external party and draw closer together to support each other.
Sterling continues to test primary support at 1.140 Euro. Breach would signal a decline to the 2016 low at 1.100.
The FTSE 100 advance stalled, signaled by a doji on the weekly chart, with bearish divergence on Twiggs Money Flow indicating medium-term selling pressure. Retracement that respects support at 7400 would re-affirm the target of 7700*.
* Target: 7400 + ( 7400 – 7100 ) = 7700
Key points from Bob Doll’s weekly investment summary:
Contrast this with Philip Parker’s outlook at Altair Investments.
Read more at: Weekly Investment Commentary from Bob Doll | Nuveen
Germany’s DAX is retracing to test its new support level at 12400/12500. Rising Twiggs Money Flow signals long-term buying pressure. Respect of support is likely and would confirm a primary advance, with a target of 13400*.
* Target calculation: 12400 + ( 12400 – 11400 ) = 13400
Sterling weakened against the Euro, with GBPEUR headed for a test of primary support at 1.135/1.140. Breach would signal a fresh decline to test the 2016 low at 1.100.
The FTSE 100 shrugged this off, advancing towards its medium-term target of 7700*. Rising Twiggs Money Flow indicates long-term buying pressure.
* Target: 7400 + ( 7400 – 7100 ) = 7700
The FTSE 100 is retracing to test the new support level at 7400. Respect is likely and would indicate an advance to 7700*. Declining Twiggs Money Flow indicates medium-term selling pressure but the long-term signal remains bullish.
* Target: 7400 + ( 7400 – 7100 ) = 7700
Dow Jones Euro Stoxx 50, representing the top 50 stocks in the European Monetary Union, continues its advance. Rising Twiggs Money Flow signals strong long-term buying pressure.
The FTSE 100 broke through resistance at 7400, signaling a fresh advance. Another Twiggs Money Flow trough above zero confirms long-term buying pressure.
The FTSE 100 rallied off support at 7100. Breakout above 7400 would signal a fresh advance. Declining Twiggs Money Flow indicates medium-term selling pressure; the long-term signal, however, remains bullish.
Germany’s DAX broke through resistance from its 2015 high, signaling a fresh advance with a long-term target of 15000.
France’s CAC-40 index displays a similar bullish breakout, above resistance at 5000/5200 to offer a target of 6000.
