Tag: Dow Jones Europe Index

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S&P 500 and Europe cause ASX 200 to hesitate

Mildly bearish sentiment in the US and Europe is causing hesitancy on the ASX 200, while China continues to consolidate above long-term support.

The S&P 500 retreated below resistance at 1700, indicating a test of support at 1675. Longish tails on the last two candles are indicative of buying.  Recovery above 1700 would signal continuation of the advance to 1800*. Bearish divergence on 21-day Twiggs Money Flow, however, reflects selling pressure and breach of 1675 is more likely, testing the stronger support level at 1650. Primary support is some way off at 1560.

S&P 500 Index

* Target calculation: 1680 + ( 1680 – 1560 ) = 1800

Recovery of Dow Jones Europe Index above 290 indicates an advance to 310*. Follow-through above 295 strengthens the signal, but divergence on 13-week Twiggs Momentum suggests that a top may be forming. Reversal of TMO below zero would strengthen the warning.

Dow Jones Europe Index

* Target calculation: 290+ ( 290 – 270 ) = 310

China’s Shanghai Index holds steady above long-term support at 1950. Breakout above 2100 would suggest a rally to the downward trendline, but declining 13-week Twiggs Money Flow warns of selling pressure and breach of support at 1950 would offer a target of 1750*.

Shanghai Index

* Target calculation: 1950 – ( 2150 – 1950 ) = 1750

Australia’s ASX 200 found support at 5000 after falling sharply on Wednesday. Recovery above 5100 would indicate another test of 5250. Oscillation of 21-day Twiggs Money Flow close to zero suggests hesitancy. Breach of 5000 is as likely, and would test the stronger support level of 4850, providing a more robust foundation for further advances.

ASX 200 Index

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FTSE hesitates while DAX gaps ahead

Dow Jones Europe Index is ranging between 270 and 290 on the weekly chart, indicating a weak advance after earlier breaking long-term resistance at 265. Breakout above 290 would signal continuation, but reversal below 270 remains as likely and would warn of a reversal; confirmed if the index follows-through below 265.
Dow Jones Europe Index
The FTSE 100 broke resistance at 6500 (from the March 2013 peak), indicating an advance to 6900. But tall shadows (or candlewicks) on Thursday and Friday warn of short-term selling pressure and reversal of 21-day Twiggs Money Flow below zero strengthens the signal. Breach of support at 6400 would warn of another test of primary support at 6000.
FTSE 100 Index

* Target calculation: 7000 + ( 7000 – 6000 ) = 8000

Germany’s DAX gapped above the declining trendline, signaling another primary advance, with a target of 9300*. Breach of resistance at 8500 would confirm. Recovery of 21-day Twiggs Money Flow above zero indicates medium-term buying pressure. Reversal below 8000 is unlikely, but would warn of another test of 7700.
DAX Index

* Target calculation: 8500 + ( 8500 – 7700 ) = 9300

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Europe: Under pressure

European stocks are under pressure, with Dow Jones Europe Index again likely to test support at 270. Failure would warn of a reversal, while breakout above 290 would signal a fresh advance. 13-Week Twiggs Momentum trough above zero would indicate continuation of the primary up-trend.
DAX Index

The FTSE 100 is retracing to test the lower border of the recent flag on the weekly chart. Breach would warn of a correction to test 6000. Respect is less likely, but breakout above 6550 would indicate an advance to 6800*.
FTSE 100 Index

* Target calculation: 6400 + ( 6400 – 6000 ) = 6800

European markets may be under pressure, but they have not buckled. Expect further tests of support, but so far the primary up-trend is not threatened.

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Europe leads the way

Revival of European markets, with breakouts on the DAX and CAC-40, sparked a broad resurgence in global markets. Dow Jones Europe Index broke long-term resistance at 265 on the weekly chart, signaling a primary advance to 285*. A 63-day Twiggs Momentum trough above zero confirms the primary up-trend.

Dow Jones Europe Index

* Target calculation: 265 + ( 265 – 245 ) = 285

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Europe: DAX at 7500

Germany’s DAX is testing resistance at 7500 but bearish divergence on 13-week Twiggs Money Flow warns of medium-term selling pressure. Breakout would signal an advance to 8000*, while respect of 7500 would indicate another test of primary support at 7000. Reversal below 7000 is unlikely but would warn that a top is forming.

DAX Index

* Target calculation: 7500+ ( 7500 – 7000 ) = 8000

Dow Jones Europe Index is similarly testing resistance at 265. Again, bearish divergence on 13-week Twiggs Money Flow warns of medium-term selling pressure. Breakout above 265 would offer a target of 285*. Reversal below 245 is unlikely but would indicate a decline to 210.

Dow Jones Europe Index

* Target calculation: 265 + ( 265 – 245 ) = 285

The FTSE 100 is in a similar position: headed for a test of 6000. Breakout would signal an advance to 6400*. But bearish divergence on 13-week Twiggs Money Flow warns of medium-term selling pressure. Reversal below 5600 would test support at 5250.

FTSE 100 Index

* Target calculation: 6000 + ( 6000 – 5600 ) = 6400

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Europe: DAX heads for 7500

Germany’s Dax rallied off support at 7000 and is headed for a test of resistance at 7500. Breakout would signal an advance to 8000*. Oscillation of 13-week Twiggs Money Flow above zero indicates buying pressure. Reversal below 7000 is unlikely but would warn that a top is forming.

DAX Index

* Target calculation: 7500+ ( 7500 – 7000 ) = 8000

Dow Jones Europe Index is headed for another test of resistance at 265. Breakout would signal an advance to 285*. Reversal below 245 would warn of a correction to test primary support at 210. A 13-week Twiggs Money Flow trough above zero would indicate buying pressure.

Dow Jones Europe Index

* Target calculation: 265 + ( 265 – 245 ) = 285

The FTSE 100 rallied off support at 5600 and is headed for another test of 6000. Breakout would signal an advance to 6400*. Reversal below 5600 is unlikely but would warn of a test of primary support at 5250. Narrowing 63-day Twiggs Momentum, however, warns of a ranging market.

FTSE 100 Index

* Target calculation: 6000 + ( 6000 – 5600 ) = 6400

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Europe tests support

Germany’s Dax continues to test medium-term support at 7200. Respect of support would signal strong accumulation, while failure would indicate a correction to the rising trendline. 13-Week Twiggs Money Flow oscillating above zero indicates buying pressure. Breakout above 7600 would confirm a primary up-trend.

DAX Index

* Target calculation: 7000+ ( 7000 – 6000 ) = 8000

Dow Jones Europe Index consolidates below resistance at 265. Reversal below 250 would warn of a correction to test primary support, while breakout above 265 would signal a primary advance. Oscillation of 63-day Twiggs Momentum around zero suggests a ranging market with no clear primary trend.

Dow Jones Europe Index

* Target calculation: 260 + ( 260 – 210 ) = 310

The FTSE 100 continues to test support at 5740/5750. Failure of support would signal a correction to the rising trendline. Breakout above 6000/6100 is unlikely at present, but would offer a long-term target of 6750*. 13-Week Twiggs Money Flow oscillating above zero indicates long-term buying pressure.

FTSE 100 Index

* Target calculation: 6000 + ( 6000 – 5250 ) = 6750

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Europe and FTSE testing resistance

Dow Jones Europe Index continues to consolidate between 250 and 265, testing primary resistance. Upward breakout would signal a primary advance to the 2011 high at 310. A 63-day Twiggs Momentum trough above zero would strengthen the signal.  Reversal below 250, however, would warn of another correction.

Dow Jones Europe Index

* Target calculation: 260 + ( 260 – 210 ) = 310

The FTSE 100 is similarly consolidating below 6000. Rising 13-week Twiggs Money Flow (above zero) indicates buying pressure. Expect strong resistance at 6000/6100. Breakout would offer a long-term target of 6750*.

FTSE 100 Index

* Target calculation: 6000 + ( 6000 – 5250 ) = 6750

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Europe: Testing resistance

Dow Jones Europe Index rallied off support at 250 and is testing primary resistance at 265. Breakout would signal a primary advance to the 2011 high at 310. Rising 13-week Twiggs Money Flow indicates medium-term buying pressure. Reversal below 250 is unlikely but would warn of another correction.

Dow Jones Europe Index

Germany’s DAX is similarly testing resistance at 7600 after finding support at 7200. Rising troughs above zero on 13-week Twiggs Money Flow indicate strong buying pressure. Breakout would signal a long-term advance to 8400*. Reversal below 7200 is unlikely but would warn of a correction to the (primary) rising trendline.

DAX Index

* Target calculation: 7200 + ( 7200 – 6000 ) = 8400

The FTSE 100 similarly found support at 5740 and is headed for an attempt at 6000/6100. Rising 13-week Twiggs Money Flow (above zero) indicates buying pressure. Expect strong resistance at 6000/6100 but breakout would offer a long-term target of 6750*.

FTSE 100 Index

* Target calculation: 6000 + ( 6000 – 5250 ) = 6750

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Europe strengthening

The FTSE 100 is headed for a test of primary resistance at 6000/6100. Rising 13-week Twiggs Money Flow indicates buying pressure. Expect strong selling at resistance, because of the number of previous peaks at this level, but breakout would offer a long-term target of 6750*.

FTSE 100 Index

* Target calculation: 6000 + ( 6000 – 5250 ) = 6750

Europe is recovering strongly, with Dow Jones Europe Index testing primary resistance at 260/265. Rising 13-week Twiggs Money Flow indicates buying pressure. Breakout above 265 would signal an advance to 310*.

Dow Jones Europe Index

* Target calculation: 260 + ( 260 – 210 ) = 310

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