The Nasdaq 100 weekly chart shows the index testing support at 2800/2750. Bearish divergence on 63-day Twiggs Momentum indicates a weakening up-trend; reversal below zero would warn of a primary down-trend. Failure of support would strengthen the signal. Respect of support is unlikely but would indicate another advance.
Bellwether transport stock Fedex is testing support at $84. Narrow range of last week's candle indicates selling pressure — as does reversal of 13-week Twiggs Money Flow below zero. Downward breakout would confirm the primary down-trend earlier signaled by 63-day Twiggs Momentum below zero. A Fedex down-trend would warn of slowing activity in the broader economy.
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