Canada’s TSX Composite index also displays tall shadows on last week’s candle, indicating short-term selling pressure. Follow-through below 12700 would suggest another test of primary support at 12400. Reversal of 13-week Twiggs Money Flow below zero would warn of long-term selling pressure, while a trough above the zero line would again suggest a primary up-trend. Breakout above 12900 is unlikely at present, but would confirm.
* Target calculation: 12900 + ( 12900 – 11900 ) = 13900
Canada’s TSX Composite retreated from stubborn resistance at 12900 on the weekly chart. 13-Week Twiggs Money Flow turned down, indicating medium-term selling pressure. Another trough above zero, however, would suggest a primary up-trend. Breakout above 12900 would offer a long-term target of 14000*, but breach of support at 12400 remains as likely — and would signal a decline to 11750.
* Target calculation: 12900 + ( 12900 – 11800 ) = 14000
Canada’s TSX Composite is testing resistance at 12900 on the weekly chart. Rising 13-week Twiggs Money Flow indicates medium-term buying pressure. Breakout (above 12900) would signal a primary advance, with a long-term target of 14000*. Respect of resistance is unlikely, but would test support at 12400. The wild card is the Dow Industrial Average: if it signals a reversal, all bets are off.
* Target calculation: 12900 + ( 12900 – 11800 ) = 14000
The S&P 500 rallied off support at 1640/1650, but the correction is still underway. Respect of resistance at 1675 would confirm. Bearish divergence on 21-day Twiggs Money Flow warns of long-term selling pressure and reversal below zero would indicate continuation. Only a breach of primary support at 1560, however, would signal reversal to a down-trend.
* Target calculation: 1680 + ( 1680 – 1560 ) = 1800
VIX reversal below 15 indicates low market risk, favoring a primary up-trend.
The tech-laden Nasdaq 100 Index holding above its preceding peak at 3050 reflects a healthy up-trend.
The TSX Composite Index respected its rising trendline, suggesting a healthy up-trend. Rising troughs above zero on 21-day Twiggs Money Flow reflect strong buying pressure. Breakout above 12800 would offer a target of 13200*, but expect some resistance at 12900/13000.
* Target calculation: 12800 + ( 12800 – 12400 ) = 13200
The S&P 500 broke support at 1675 and is testing 1650. Bearish divergence on 21-day Twiggs Money Flow warns of selling pressure. Breach of 1650 would test the rising trendline around 1625. Respect (of the trendline) would indicate a healthy up-trend, while failure would test primary support at 1560.
* Target calculation: 1680 + ( 1680 – 1560 ) = 1800
There is a lower trendline, however, on the monthly chart. Breach of support at 1560 would indicate a test of the (super) trendline.
The VIX below 15 continues to indicate low market risk, favoring a primary up-trend. We need to watch this closely, however, as a spike above 0.20 may warn that something is amiss.
The TSX Composite Index rallied off support at 12400, indicating a test of resistance at 12900/13000. Rising 13-week Twiggs Money Flow above zero indicates medium-term buying pressure. Respect of resistance would suggest another down-swing to 12000/11750, but breakout above 12900/13000 is as likely and would offer a long-term target of 14000*.
* Target calculation: 13000 + ( 13000 – 12000 ) = 14000
The S&P 500 is again testing resistance at 1700 after a short retracement. Bearish divergence on 21-day Twiggs Money Flow continues to warn of selling pressure, but breakout above 1700 would signal an advance to 1800*. Reversal below 1675 would test support at 1650.
* Target calculation: 1680 + ( 1680 – 1560 ) = 1800
But the primary up-trend shown on the quarterly chart is healthy and, while correction to the rising trendline would be reasonable, trend reversal is unlikely.
The VIX below 15 indicates low market risk.
Canada’s TSX 60 VIX is similarly bullish.
The TSX Composite Index is testing support at 12400. Penetration of the declining trendline would indicate the correction is over and advance to 12900/13000 likely. A 21-day Twiggs Money Flow trough above zero would suggest a healthy up-trend. Breach of support remains as likely, however, and would test 12250. In the long-term, breakout above 12900/13000 would offer a long-term target of 14000*.
* Target calculation: 13000 + ( 13000 – 12000 ) = 14000
Short candles on the S&P 500 indicate some opposition, but breakout above resistance at 1675 indicates an advance to 1800*. Follow-through above 1700 would strengthen the signal. The 21-day Twiggs Money Flow trough above zero indicates medium-term buying pressure — and a healthy up-trend. Reversal below 1650 is unlikely, but would warn of another test of primary support at 1560.
* Target calculation: 1680 + ( 1680 – 1560 ) = 1800
The VIX below 15 suggests low market risk.
The TSX Composite Index is advancing towards resistance at 12900. Breakout would signal a primary advance, with a long-term target of 14000*. Follow-through above 13000 would strengthen the signal. Breach of the declining trendline on 13-week Twiggs Money Flow would also suggest improving buying pressure. Respect of 12900, however, and reversal of 13-week TMF below zero, would warn of another test of 11750.
* Target calculation: 13000 + ( 13000 – 12000 ) = 14000
The S&P 500 broke resistance at 1675 but the short candle indicates (short-term) selling pressure. Follow-through above the May high at 1690 would confirm the primary advance, with a target of 1800*. The 21-day Twiggs Money Flow trough above zero indicates medium-term buying pressure. Reversal below 1650 is unlikely, but would warn of another test of primary support at 1560.
* Target calculation: 1680 + ( 1680 – 1560 ) = 1800
The VIX below 15 indicates market optimism.
The TSX Composite Index has advanced strongly since the bear trap below 12000. Recovery of 13-week Twiggs Money Flow above zero indicates medium-term buying pressure. Target for the advance is 12900. Breakout would offer a long-term target of 14000*. Reversal below 12000 is unlikely, but would signal a primary down-trend; confirmed if 11750 is broken.
* Target calculation: 13000 + ( 13000 – 12000 ) = 14000
The VIX retreated below 15, signaling that market risk is falling.
The S&P 500 is testing its declining trendline after a brief consolidation above 1600. Penetration would suggest that the correction is over; confirmed if resistance at 1650 is broken. 21-Day Twiggs Money Flow is leveling out and a trough above the line would signal a healthy primary up-trend. Target for an advance would be 1800*.
* Target calculation: 1680 + ( 1680 – 1560 ) = 1800
The TSX Composite index penetrated its declining trendline, suggesting that the correction is over. Follow-through above 12250 would strengthen the signal, while a rise above 12400 would confirm. Recovery of 21-day Twiggs Money Flow above zero would indicate buying pressure. Target for an advance would be 12900/13000. Reversal below 11900 is now unlikely, but would signal a primary down-trend.
The S&P 500 rally appears to be faltering. Reversal below 1600 would suggest another decline, with a target of 1500*. Breach of support at 1560 would confirm, while reversal of 21-day Twiggs Money Flow below zero would strengthen the signal.
The June quarter ended with the S&P 500 above its new support level at 1550. Respect of the zero line by 13-week Twiggs Money Flow indicates a healthy up-trend, but the tall shadow (or wick as some call it) on the latest candle suggests otherwise. Reversal below 1500 would warn of a correction to the rising trendline, around 1400.
Breakout of VIX above 25 would signal increased market risk.
A false break below primary support on the TSX Composite index was followed by a rally above 12000. Follow-through above the descending trendline would suggest that the correction is over, but a 21-day Twiggs Money Flow peak below zero would warn of selling pressure — and reversal below 11900 would confirm the primary down-trend.
