By Colin Twiggs
August 28th, 2012 1:00 a.m. ET (3:00 p.m. AET)
These extracts from my trading diary are for educational
purposes and should not be interpreted as investment or trading advice. Full
terms and conditions can be found at Terms of
Use.
* Target calculation: 1420 + ( 1420 - 1280 ) = 1560
The Nasdaq 100 is similarly testing resistance at 2800 on the weekly chart.
Breakout would offer a target of 3150*. The 63-day Twiggs Momentum trough above
zero indicates continuation of the primary up-trend, but reversal below zero
would warn of a primary down-trend.
* Target calculation: 2800 + ( 2800 - 2450 ) = 3150
Fedex is testing support at $88, neckline of the March/April double top.
Failure of support would suggest continuation of the primary down-trend;
confirmed if support at $84 is broken.
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