Tag: BSE Sensex

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China dousing the flames with gasoline

The PBOC is dousing the flames with gasoline, adding further credit to prevent a slow-down. The longer this goes on, the more precarious their situation will become.

Shanghai Composite Index lifted above 2060/2065, indicating continuation of the rally to 2090. Rising 21-day Twiggs Money Flow troughs above zero signal strong medium-term buying pressure. Breakout above 2090/2100 would suggest another test of 2150. Failure of primary support at 1990/2000 is unlikely, but would warn of a decline to 1850*.

Shanghai Composite Index

* Target calculation: 2000 – ( 2150 – 2000 ) = 1850

India’s Sensex retraced to test support at 25000 after reaching its target of 26000. Respect would signal continuation of the advance, but 21-day Twiggs Money Flow below zero warns of selling pressure. Breach of support would warn of a correction to the primary trendline, around 23000.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

The weekly chart of Japan’s Nikkei 225 (21-day Twiggs Money Flow) shows the index consolidating below 15500. 13-Week Twiggs Money Flow holding above zero signals long-term buying pressure. Breakout above 15500 would test the December 2013 high at 16300. Reversal below 15000 is less likely, but would warn of another test of primary support at 14000.

Nikkei 225

* Target calculation: 15000 + ( 15000 – 14000 ) = 16000

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Asia: India leads but China & Japan improving

China’s Shanghai Composite Index retraced to test the new support level at 2050. A 21-day Twiggs Money Flow trough above zero signals strong medium-term buying pressure. Respect of support is likely and would signal a rally to 2090/2100. Failure is unlikely, but would test primary support at 1990/2000.

Shanghai Composite Index

* Target calculation: 2000 – ( 2150 – 2000 ) = 1850

Divergence on Japan’s Nikkei 225 (21-day Twiggs Money Flow) warns of medium-term selling pressure and another test of support at 15000. Respect of 15000 would confirm a rally to 16000*. Failure is unlikely, but would warn of another test of primary support at 14000.

Nikkei 225

* Target calculation: 15000 + ( 15000 – 14000 ) = 16000

India’s Sensex reached its target of 26000. Expect retracement to test the new support level at 25700/26000, but a 21-day Twiggs Money Flow trough above zero signals strong buying pressure. Breach of support is unlikely, but would warn of a correction to 25000. Further advances are likely, with a medium-term target of 27000.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

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Japan and India test new support

Japan’s Nikkei 225 retraced to test its new support level around 15000. Respect would confirm a rally to 16000. Completion of a 13-week Twiggs Money Flow trough above zero indicates long-term buying pressure. Reversal below 14800 is unlikely, but would warn of another test of primary support at 14000.

Nikkei 225

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

India’s Sensex is far stronger — retracing to test its new support level at 25000. Bearish divergence on 13-week Twiggs Money Flow warns of medium-term selling pressure. Breach of support would warn of a correction to 24000. But the primary trend is upward and recovery above 25500 would signal another advance.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

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Japan India bullish

Completion of a 13-week Twiggs Money Flow trough above zero indicates long-term buying pressure for Japan’s Nikkei 225 index. Breakout above medium-term resistance at 15200 suggests a rally to 16000. Reversal below 14800 is unlikely, but would warn of another test of primary support at 14000.

Nikkei 225

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

India’s Sensex is testing its new support level at 25000. The primary trend is up, but bearish divergence on 13-week Twiggs Money Flow warns of medium-term selling pressure. Breach of support would warn of a correction to 24000, but respect would confirm an advance to 26000*.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

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Asian stocks revive

India’s Sensex is retracing to test the new support level at 25000. Respect would confirm an advance to 26000*. The primary trend is up and rising 21-day Twiggs Money Flow suggests buying pressure. Breach of 25000 is unlikely, but would warn of a test of 24000.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

China’s Shanghai Composite Index is headed for another test of 2150 after breaking resistance at 2050. A 21-day Twiggs Money Flow trough at zero signals medium-term buying pressure. Breakout above 2150 is unlikely, but would complete a triple-bottom reversal. Reversal below primary support at 1990/2000 also appears unlikely at present, but would signal a decline to 1850*.

Shanghai Composite Index

* Target calculation: 2000 – ( 2150 – 2000 ) = 1850

Japan’s Nikkei 225 found resistance at 15000/15200 on the weekly chart. A 13-week Twiggs Money Flow trough above zero signals long-term buying pressure. Breakout above 15200 would target 16000. Reversal below 14800 is unlikely, but would signal a test of primary support at 14000.

Nikkei 225

Hong Kong’s Hang Seng Index is headed for a test of long-term resistance at 24000 on the monthly chart. A 13-week Twiggs Money Flow trough at zero indicates long-term buying pressure. Breakout above 24000 would signal a primary advance to 27000*. Reversal below 21000 and the rising trendline is most unlikely, but would warn of reversal to a primary down-trend.

Hang Seng Index

* Long-term target calculation: 24000 + ( 24000 – 21000 ) = 27000

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India leads the bulls

India’s Sensex broke through 25000, signaling an advance to 26000*. The primary trend is up and bearish divergence on 13-week Twiggs Money Flow insignificant. Reversal below 24000 is most unlikely. The trend is accelerating, with no end in sight, but investors should bear in mind that blow-offs are often followed by sharp falls.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

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Asia: India bullish but China weak

India’s Sensex found support at 24000. Recovery above 25000 would signal a fresh advance to 26000*. Breach of support is unlikely, but would warn of further correction. The primary trend is up and bearish divergence on 13-week Twiggs Money Flow indicates nothing more than medium-term selling pressure from the present correction.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

China’s Shanghai Composite Index continues to test primary support at 2000. Follow-through below 1990 would signal a decline to 1850*. Reversal of 13-week Twiggs Money Flow below zero signals medium-term selling pressure. Recovery above 2150 is unlikely, but would complete a triple-bottom reversal.

Shanghai Composite Index

* Target calculation: 2000 – ( 2150 – 2000 ) = 1850

Japan’s Nikkei 225 rebounded off primary support and is testing resistance at 15000. Follow-through above 15200 would signal another test of 16000. Recovery of 13-week Twiggs Money Flow above 20% would confirm long-term buying pressure. Reversal below 14000 is unlikely, but would signal a primary down-trend.

Nikkei 225

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India and Singapore strong

India’s Sensex is likely to retrace to test the new support level after breaking resistance at 24000. Breach of support would warn of a correction back to 23000, with 21-day Twiggs Money Flow (respecting the zero line from below) continuing to warn of medium-term selling pressure. Long term, the primary trend is upward, with 13-week Twiggs Money Flow troughs above zero signaling buying pressure. Respect of support at 24000 would signal another test of 25000.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

Singapore’s Straits Times Index is testing resistance at 3260. Several long tails on the weekly chart, and recovery of 13-Week Twiggs Money Flow above zero, suggest medium-term buying pressure. Follow through above 3300 would signal a primary advance to 3600*. Respect of resistance is unlikely, but reversal below 3200 would warn of another test of primary support at 3000.

Straits Times Index

* Target calculation: 3300 + ( 3300 – 3000 ) = 3600

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India bullish while China, Japan remain weak

Sometimes monthly charts provide a clearer view of market direction by eliminating short-term noise.

India’s Sensex displays a primary advance, since breaking resistance at 21000, offering a long-term target of 26000*. Rising 13-week Twiggs Money Flow troughs above zero indicate strong buying pressure. Correction to test the rising trendline and support at 22000 should not be ruled out, but the primary trend is upward.

Sensex

* Target calculation: 21000 + ( 21000 – 16000 ) = 26000

The Shanghai Composite Index continues its gradual descent to a carefully managed soft-landing. Declining 13-week Twiggs Money Flow indicates selling pressure. Breach of primary support at 1980 would offer a target of 1750*.

Shanghai Composite Index

* Long-term target calculation: 2000 – ( 2250 – 2000 ) = 1750

Japan’s Nikkei 225 is testing primary support at 14000, while a large bearish divergence on 13-week Twiggs Money Flow warns of selling pressure. Breach of 14000 would confirm a primary down-trend. Recovery above 15000 and the descending trendline, however, would indicate another test of 16000*.

Nikkei 225

* Target calculation: 15000 + ( 15000 – 14000 ) = 16000

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India, China strengthen while Japan falters

Japan’s Nikkei 225 is testing primary support at 14000, while a large bearish divergence on 13-week Twiggs Money Flow warns of long-term selling pressure. Follow-through below 14000 would confirm a primary down-trend. Recovery above 15000 and the descending trendline is unlikely, but would indicate an advance to 16000*.

Nikkei 225

* Target calculation: 15000 + ( 15000 – 14000 ) = 16000

Bullish divergence (13-week Twiggs Money Flow) on the Shanghai Composite Index signals medium-term buying pressure. Breakout above 2180 would complete a double bottom reversal. Breach of primary support at 1980 is unlikely, but would offer a target of 1750*.

Shanghai Composite Index

* Long-term target calculation: 2000 – ( 2250 – 2000 ) = 1750

Indian exchanges were closed Monday. A long-term view of the Sensex displays a healthy up-trend, with 13-week Twiggs Money Flow trough above zero indicating buying pressure. Target for the latest advance is 23000*, but reversal below 22000 would warn of a correction to test the new support level at 21000.

Sensex

* Target calculation: 21500 + ( 21500 – 20000 ) = 23000

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