Tag: Dow Jones

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China & HongKong retreat

Dow Jones Shanghai Index fell sharply on Tuesday, signaling a test of the lower trend channel. Declining 63-Day Twiggs Momentum below zero indicates a strong primary down-trend.

Dow Jones Shanghai Index

The Hang Seng Index retreated to 18000 Tuesday. Respect of both resistance at 19000 and the descending trendline warn of another test of primary support at 16000. Declining 13-week Twiggs Money Flow indicates long-term selling pressure. Failure of primary support would offer a target of 13000*.

Hang Seng Index

* Target calculation: 16 – ( 19 – 16 ) = 13

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Japan, South Korea selling pressure

Dow Jones Japan Index broke support at 4900, warning of another primary decline. 63-Day Twiggs Momentum holding below zero confirms a strong primary down-trend.

Dow Jones Japan Index

* Target calculation: 51 – ( 58 – 51 ) = 64

Dow Jones South Korea Index gapped sharply lower at the open, prompting a brief trading halt on the Korean exchange. 21-day Twiggs Money Flow holding below zero warns of strong (medium-term) selling pressure. Failure of support at 360 would test 330 in the short-term, but the calculated target is 290*.

Dow Jones South Korea Index

* Target calculation: 360 – ( 430 – 360 ) = 290

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Europe falls heavily at open

Dow Jones Europe Index collapsed at the open of European markets, breakout below 225 signaling another down-swing with a target of 185*. 63-Day Twiggs Momentum declining below zero indicates a strong primary down-trend.

Dow Jones Europe Index

* Target calculation: 225 – ( 265 – 225 ) = 185

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India Singapore selling pressure

Dow  Jones Total Stock Market (TSM) India Index is testing resistance at 1825. 21-Day Twiggs Money Flow mostly below zero warns of medium-term selling pressure. Expect resistance to hold followed by another test of support at 1650.

DJTSM India

* Target calculation: 1650 – ( 1800 – 1650 ) = 1500

The weekly SENSEX chart shows a similar story: the index retracing to test resistance at 17500, but 13-week Twiggs Money Flow below zero warning of strong selling pressure. Reversal below 16000 would offer a target of 14500*.

SENSEX India

* Target calculation: 16000 – ( 17500 – 16000 ) = 14500

Dow Jones Singapore Index retreated Monday. 21-Day Twiggs Money Flow below zero warns of medium-term selling pressure. Failure of support is likely and would offer a target of 200*.

DJ Singapore Index

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

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HongKong sell-off accelerates

Dow Jones HongKong Index reversed below 400, warning of another down-swing. The secondary trendline and declining 63-day Momentum indicate that the sell-off is accelerating.

Dow Jones HongKong Index

* Target calculation: 400 – ( 450 – 400 ) = 350

Weekly chart of the Shanghai Composite Index shows a primary down-swing to test support at 2300*. Reversal of 13-week Twiggs Money Flow below zero would warn of rising selling pressure. Failure of support would test the 2008 low of 1700.

Shanghai Composite Index

* Target calculation: 2650 – ( 3000 – 2650 ) = 2300

The sell-off in Asian markets will impact on others with a strong mining sector: Australia, Brazil, South Africa and Canada.

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Weak Asian markets warn of continued selling pressure

Dow Jones Japan Index is testing long-term support at 50.00. 13-Week Twiggs Money Flow oscillating around zero indicates uncertainty; reversal below zero would warn of rising selling pressure. Breakout below 4800 would offer a target of 35.00*.

Dow Jones Japan Index

* Target calculation: 50 – ( 65 – 50 ) = 35

The Nikkei 225 Index is headed for a test of 7000* after breaking support at 9000 on the weekly chart.

Nikkei 225 Index

* Target calculation: 9000 – ( 11000 – 9000 ) = 7000

Dow Jones South Korea Index is consolidating between 360 and 410 on the daily chart. 21-Day Twiggs  Money Flow below zero warns of strong medium-term selling pressure. Downward breakout would offer a target of 290*.

Dow Jones South Korea Index

* Target calculation: 360 – ( 430 – 360 ) = 290

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Dow rallies on light volume

Dow Jones Industrial Average rallied on unconfirmed news reports that China is set to buy sovereign debt from troubled Italy. Light volume indicates an absence of selling pressure. This is a bear market, however, and rallies are likely to be of short duration, while breach of support would lead to sharp falls.

Dow Jones Industrial Average

* Target calculation: 11000 – ( 12000 – 11000 ) = 10000

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Europe breaks support

DJ Europe Index broke support at 225, signaling another down-swing to the 2010 low at 205. The calculated target is lower at 195.

DJ Europe Index

* Target calculation: 230 – ( 265 – 230 ) = 195

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India, Singapore weaken

Dow Jones India 30 Titans Index is headed for another test of support at 152. 21-Day Twiggs Money Flow holding below zero indicates selling pressure. Failure of support would warn of a down-swing to 136*.

Dow Jones India 30 Titans

* Target calculation: 152 – ( 168 – 152 ) = 136

Dow Jones Singapore Index is testing the band of support between 220 and 215. Low volume indicates weak support. Failure of 215 would offer a target of 200*.

Dow Jones Singapore

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

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European stocks threaten breakout

DJ Europe Index ($E1DOW) reversed below 230, threatening another down-swing — with a target of 200. Twiggs Momentum oscillating below zero indicates a primary down-trend. Follow-through below 225 would confirm the bear signal.

DJ Europe

* Target calculation: 230 – ( 270 – 230 ) = 190

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