Tag: FTSE 100

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DAX: No World Cup euphoria

DAX recovered above medium-term support at 9700. This is not just World Cup euphoria as the Footsie displays a similar rise. Follow-through above 9800 would suggest another test of 10000, but declining 21-day Twiggs Money Flow, below zero, indicates medium-term selling pressure. Reversal below 9700 would confirm a correction to the primary trendline at 9500. Breakout above 10000 is unlikely at present, but would indicate an advance to 10500*.

DAX

* Target calculation: 9750 + ( 9750 – 9000 ) = 10500

The Footsie shows a similar broadening wedge to the DAX, but Thomas Bulkowski warns they are unreliable continuation patterns. Recovery of 21-day Twiggs Money Flow above the descending trendline would indicate that selling pressure is easing. Reversal below 6700, however, would confirm a correction. Recovery above 6880 is unlikely at present, but would signal an advance to 7200*.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

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Europe: Selling pressure

Dow Jones Euro Stoxx 50 is testing support at 3200/3230. Declining 21-day Twiggs Money Flow indicates medium-term selling pressure. Breach of 3200 and the rising trendline would warn of a correction and weakness in the primary up-trend. Recovery above 3300 is less likely, but would suggest another advance.

Dow Jones Euro Stoxx 50

* Target calculation: 3200 + ( 3200 – 3000 ) = 3400

DAX again retreated below the psychological barrier of 10,000. A sharp fall on 21-day Twiggs Money Flow indicates strong medium-term selling pressure. Expect further consolidation between 10000 and 9700. Failure of support would warn of a correction to the primary trendline at 9500. Recovery above 10000 is unlikely at present, but would indicate an advance to 10500*.

DAX

* Target calculation: 9750 + ( 9750 – 9000 ) = 10500

The Footsie also shows selling pressure on 21-day Twiggs Money Flow. Expect another test of 6700. Recovery above 6870 is unlikely at present, but would signal an advance to 7200*.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

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Europe: Mild selling pressure

DAX again retraced to test support at 9750/9800. A small decline on 13-week Twiggs Money Flow indicates mild (medium-term) selling pressure. Failure of support would warn of a correction to the primary trendline. Respect is less likely, but would suggest a fresh advance; confirmed by breakout above 10000.

DAX

* Target calculation: 9750 + ( 9750 – 9000 ) = 10500

The Footsie shows similar selling pressure to the DAX, with a mild decline on 13-week Twiggs Money Flow. The long tail on last week’s candle suggests support at 6700 and the rising trendline. Recovery above 6900 would signal an advance to 7200*. But reversal below 6700 is as likely and would warn of a correction to primary support at 6400/6500.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

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DAX and Footsie bullish

DAX is testing the psychological barrier of 10000. Recovery of 13-week Twiggs Money Flow above the descending trendline indicates medium-term buying pressure. Breakout above 10000 would signal an advance to 10500*. Reversal below 9750 is unlikely, but would warn of a correction.

DAX

* Target calculation: 9750 + ( 9750 – 9000 ) = 10500

The Footsie is gathering strength for another attempt at resistance around 6850/6880. Rising 13-week Twiggs Money Flow troughs above zero indicate long-term buying pressure. Breakout would signal an advance to 7200*. Reversal below 6740 is less likely, but would warn of a correction to primary support at 6400/6500.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

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European stocks’ strong Ichimoku trend

Weekly charts of Ichimoku Cloud show European stocks in an up-trend. Dow Jones Euro Stoxx 50 displays healthy separation above a green cloud. The signal is further strengthened by blue (Tenkan) holding above the red (Kijun) line for the last 6 months.

Dow Jones Euro Stoxx 50

* Target calculation: 3200 + ( 3200 – 3000 ) = 3400

The DAX is consolidating below the psychological barrier of 10000, while displaying healthy separation above a green Ichimoku cloud. Breakout would confirm the recent buy signal where blue (Tenkan) crossed above the red (Kijun) line. Target for an advance would be 10500*. Reversal below 9700 is unlikely, but would warn of a correction.

DAX

* Target calculation: 9750 + ( 9750 – 9000 ) = 10500

The Footsie is struggling to break resistance at 6850/6880 and getting squeezed against the rising green cloud. Ichimoku still signals an up-trend but this is markedly weaker than the other two indices. Breakout would signal an advance to 7200*, but reversal below 6800 warns of another correction — likely to find support at the upper border of the cloud.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

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Europe: DAX and Footsie test resistance

  • Euro weakens.
  • Stocks in a strong up-trend.

The Euro is testing primary support and the rising trendline at $1.35 on the weekly chart. Bearish divergence on 13-week Twiggs Momentum, followed by a cross below zero, warns of a trend reversal. Breach of support would strengthen the signal. Recovery above $1.37, however, would suggest another test of $1.40.

Euro

Dow Jones Euro Stoxx 50 is trending strongly on the monthly chart. Recovery of 13-week Twiggs Momentum above 10% would complete another trough above zero, further strengthening the trend. Reversal below 3000 and the primary trendline is most unlikely, but would warn of a reversal.

Dow Jones Euro Stoxx 50

* Target calculation: 3200 + ( 3200 – 3000 ) = 3400

The Footsie is again testing resistance at 6850. Follow-through above 6900 would signal an advance to 7200*. Falling 13-week Twiggs Money Flow indicates short-term selling pressure, but long-term oscillations above zero reflect strong buying pressure. Reversal below 6800 is less likely, but would warn of another correction.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

The DAX is sitting at the psychological barrier of 10000. Expect retracement to test support at 9800. Respect is likely and follow-through above 10000 would signal an advance to 10500* Recovery of 13-week Twiggs Money Flow above the declining trendline suggests that selling pressure is easing. Reversal below 9750/9800 is unlikely, but would warn of a correction to the rising trendline.

DAX

* Target calculation: 9750 + ( 9750 – 9000 ) = 10500

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Footsie and DAX tentative breakout

The Footsie is again testing resistance at 6850. Follow-through above 6900 would signal an advance to 7200*. Rising 13-week Twiggs Money Flow troughs above zero indicate long-term buying pressure. Reversal below 6800 is unlikely, but would warn of another correction.

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

The DAX broke resistance at 9800. Expect retracement to test the new support level. Respect is likely and follow-through above 10000 would signal an advance to 10500*. Recovery of 13-week Twiggs Money Flow above the declining trendline suggests that selling pressure is easing. Reversal below 9750/9800 is unlikely, but would warn of another correction.

DAX

* Target calculation: 9750 + ( 9750 – 9000 ) = 10500

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Footsie breakout, DAX to follow?

The Footsie broke resistance at 6850, signaling an advance to 7200*. Completion of another 13-week Twiggs Money Flow trough above zero indicates strong buying pressure. Reversal below 6700 is unlikely, but would signal a bull trap (and test of 6400/6500).

FTSE 100

* Target calculation: 6800 + ( 6800 – 6400 ) = 7200

The DAX is testing resistance at 9800. Breakout would offer a target of 10600*. Recovery of 13-week Twiggs Money Flow above 30% would suggest that the bearish divergence is over. Respect of resistance is less likely, but would warn of another test of primary support at 9000.

DAX

* Target calculation: 9800 + ( 9800 – 9000 ) = 10600

Dow Jones Euro Stoxx 50 overcame long-term resistance at 3050/3100 and follow-through above 3240 would confirm a target of 3400*. Recovery above 3180 would signal another advance, but bearish divergence on 13-week Twiggs Momentum suggests weakness. Failure of 3100 would warn of a correction to test 2900/3000.

Dow Jones Euro Stoxx 50

* Target calculation: 3200 + ( 3200 – 3000 ) = 3400

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Europe hesitant

The Euro is retracing to test support at $1.37 on the monthly chart. Bearish divergence on 13-week Twiggs Momentum continues to warn of medium-term weakness, and penetration of the rising trendline/support at $1.35 would warn of a bull trap. Follow-through above $1.40 is unlikely at present, but would signal an advance to $1.46*.

Euro

* Target calculation: 1.37 + ( 1.37 – 1.28 ) = 1.46

Dow Jones Euro Stoxx 50 found support at 3100. Recovery above 3180 would signal another advance, but bearish divergence on 13-week Twiggs Momentum suggests weakness. Failure of 3100 would warn of a correction to test 2900/3000.

Dow Jones Euro Stoxx 50

The DAX found support at 9200 and recovery above 9400 would suggest another test of 9800. Breakout above 9800 is unlikely, but would offer a target of 10600*. Bearish divergence on 13-week Twiggs Money Flow continues to indicate medium-term selling pressure, until the descending trendline is broken. Further consolidation between 9000 and 9800 is the most likely outcome. Breach of primary support at 9000 is unlikely, but would signal reversal to a primary down-trend.

DAX

DAX Volatility is rising, but continues to indicate low risk typical of a bull market.

DAX

The Footsie similarly found support at 6500. Recovery above 6750 would signal another attempt at 6850. 13-Week Twiggs Money Flow oscillating above zero continues to indicate healthy (long-term) buying pressure. Reversal below 6400 (and the rising trendline) is unlikely, but would signal a primary reversal. Breakout above 6850 is also unlikely at this stage, so again further consolidation is the most likely outcome.

FTSE 100

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Are we in a bull market?

A simple reflection of the weekly trend on major markets using Ichimoku Cloud. Candles above the cloud indicate an up-trend, below the cloud indicates a down-trend, while in the cloud reflects uncertainty. From West to East:
S&P 500
S&P 500
Footsie
FTSE 100
DAX
DAX
ASX 200
ASX 200
Nikkei 225 is testing primary support at 14000 and looks a bit weaker
Nikkei 225
While China is holding above primary support at 1950/2000 but shows no clear trend
Shanghai Composite

Overall, there is a strong case for a bull market.

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