Tag: FTSE 100 Index

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Europe: DAX selling pressure

The FTSE 100 is retracing to test its (secondary) rising trendline on the daily chart. Respect would signal another advance — as would a 21-day Twiggs Money Flow trough above zero.

FTSE 100 Index

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

Germany’s DAX is retracing to test support at 7500 on the monthly chart. Bullish divergence on 13-week Twiggs Money Flow warns of selling pressure. Breach of support would indicate a correction to test the rising trendline — around 7000.

DAX Index

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

Italy’s MIB index retreated below the new support level of 17000. Breach of the rising trendline — and support at 16000 — would warn of a bull trap. But a 63-day Momentum trough above zero would signal a primary advance to 19000*.

DAX Index

* Target calculation: 17000 + ( 17000 – 15000 ) = 19000

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Europe: Italy tests support while UK and Germany surge

Italy’s MIB index retreated from resistance at 18000 to re-test the key support level of 17000. Respect would confirm the primary up-trend with an initial target of 19000*. Rising 13-week Twiggs Money Flow indicates long-term buying pressure.

DAX Index

* Target calculation: 17000 + ( 17000 – 15000 ) = 19000

Germany’s DAX primary advance is approaching the 2007 high at 8000/8200.  Resistance is evident, with shorter candles over the last two months and 13-week Twiggs Money Flow declining from its 2012 peak. Expect a correction, but long-term buying pressure (signaled by rising 13-week Twiggs Money Flow) should see continuation of the primary up-trend.

DAX Index

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

The FTSE 100 broke through resistance at 6000 and is advancing toward its 2007 high of 6750*. Rising 13-week Twiggs Money Flow indicates long-term buying pressure, while the recent spike should see strong gains in February.

FTSE 100 Index

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

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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

Today we look at the long-term view, with monthly charts. Germany’s Dax closed below 7200, warning of a correction to the rising trendline. 13-Week Twiggs Money Flow oscillating above zero indicates buying pressure. Respect of the rising trendline would indicate a primary advance. Breakout above 7600 would confirm, offering a target of 8000*.

DAX Index

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

Reversal of the Madrid General Index below 760 would warn of a correction. Respect of 700 would be bullish but a test of 600 is more likely. A 63-day Twiggs Momentum trough above zero, while unlikely, would also be a bullish sign.

Madrid General Index

The FTSE 100 found resistance at 6000 and is likely to re-test the rising trendline. 13-Week Twiggs Money Flow oscillating above zero indicates long-term buying pressure. Respect of the trendline would indicate another primary advance, while breakout above 6100 would offer a long-term target of 6750*. Penetration of the trendline is less likely, but would test primary support at 5250.

FTSE 100 Index

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

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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: Dax buying pressure

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

Dow Jones Europe Index

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

The FTSE 100 (daily chart) is testing support at 5740/5750. Long tails suggest short-term buying pressure but bearish divergence on 21-day Twiggs Money Flow warns of medium-term selling. Breach of support would signal a correction. Breakout above 6000/6100 is unlikely at present, but would offer a long-term target of 6750*.

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: Still positive

Germany’s DAX found support at 7200. Respect would indicate another attempt at long-term resistance at 7500/7600. Rising troughs above zero on 13-week Twiggs Money Flow indicate strong buying pressure. Breakout would signal a long-term advance to 8400*.

DAX Index

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

Madrid General Index similarly found support at 770. A 63-day Twiggs Momentum trough above zero would indicate a primary up-trend. Respect of support would indicate a test of resistance at 900, while failure would retrace to 720.

Madrid General Index

France’s CAC-40 retraced to 3350. Respect would mean another test of 3600, while breach of the rising trendline would warn of a down-swing to test primary support at 2900.  A 63-day Twiggs Momentum trough above zero would suggest a primary up-trend. Breakout above 3600 would confirm, offering a target of the 2011 high at 4100.

CAC-40 Index

* Target calculation: 3600 + ( 3600 – 3000 ) = 4200

A daily chart of the FTSE 100 shows medium-term support at 5740. Follow-through above 5880 would indicate an attempt at primary resistance at 6000/6100. Rising 21-day Twiggs Money Flow troughs above zero indicate buying pressure, but the last (marginal) breakout above 5880 warns of strong resistance at 6000. Breakout above 6100 would offer a long-term target of 6750*.

FTSE 100 Index

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

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