Dow Jones Index Archives - the patient investor

August 22, 2011April 18, 2024

India Singapore short-term buying

The DJ Total Stock Market (formerly DJ Wilshire) Index for India ($DWIN) gapped down on Monday’s open but closed with a long tail. Short-term buying is unlikely to withstand concerted selling pressure, signaled by 13-week Twiggs Money Flow below zero.

Dow Jones Industrial Average

* Target calculation: 1820 – ( 1980 – 1820 ) = 1660

DJ Singapore also closed with a long tail, indicating short-term buying support — confirmed by higher volume. Again this is unlikely to withstand long-term selling pressure for more than a few days.

Dow Jones Industrial Average

* Target calculation: 220 – ( 240 – 220 ) = 200

August 22, 2011

China commits to down-trend

The Dow Jones Shanghai Index reversed below primary support at 328, confirming the primary down-trend signal from the Shanghai Composite Index. The 21-day Momentum peak barely above zero strengthens the bear signal.

Dow Jones Shanghai Index

* Target calculation: 330 – ( 360 – 330 ) = 300

Dow Jones HongKong Index broke short-term support at 415, indicating a down-swing to its 2010 low at 365. The longer-term 63-day Momentum below zero strengthens the bear signal.

Dow Jones HongKong Index

* Target calculation: 415 – ( 445 – 415 ) = 385

August 22, 2011

Asia slides

The Dow Jones Japan Index closed Monday below last weeks low, indicating a down-swing to 46*. The 21-Day Twiggs Money Flow peak deep below zero warns of strong selling pressure.

Dow Jones Japan Index

* Target calculation: 50 – ( 54 – 50 ) = 46

Dow Jones South Korea Index has already broken short-term support at 380 and is headed for the 2010 low at 330*. 13-Week Twiggs Money Flow below zero confirms strong selling pressure.

Dow Jones South Korea Index

* Target calculation: 380 – ( 430 – 380 ) = 330

Dow Jones Taiwan Index has also broken support, at 177, and will test the 2010 low at 168. 13-Week Twiggs Money Flow below zero again warns of strong selling pressure.

Dow Jones Taiwan Index

* Target calculation: 180 – ( 195 – 180 ) = 165