Madrid General Index is testing resistance at 720. Breakout would complete a double bottom, offering a target of 840*. Bullish divergence on 63-day Twiggs Momentum indicates a resurgence, but we are some way off a recovery above zero which would signal a primary up-trend.
Dow Jones Europe Index displays a strong bullish divergence on 63-day Twiggs Momentum, indicating a (primary trend) reversal. Recovery above zero would strengthen the signal. Penetration of the descending trendline would suggest a test of resistance at 265.
The FTSE 100 is headed for a test resistance at 6000. A trough at zero on 13-week Twiggs Money Flow suggests buying pressure but expect strong resistance at 6000 because of the number of previous reversals at this level.

Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.