Dow Jones UK index reversed above the former primary support level at 282, warning of a bear trap.
UK & Europe
Dow Jones UK index retreated below support/resistance (the lighter shaded candle reflects an incomplete week) at the October 2011 high, suggesting a bull trap. Bearish divergence on 13-week Twiggs Money Flow warns of strong selling pressure.
The FTSE 100 shows a similar bearish divergence on 13-week Twiggs Money Flow. Reversal of 63-day Twiggs Momentum below the zero line would strengthen the bull trap signal.
Dow Jones Europe index is testing medium-term support at 240. Breach of the green ascending trendline would warn of another test of primary support at 210 — as would 63-day Twiggs Momentum respecting the zero line.
