"No man can become rich without himself enriching others"
Andrew Carnegie



Monday, February 25, 2013

S&P 500 finds support but Nasdaq warns caution

 By Colin Twiggs

Sydney, Feb.25, stock investment .- The S&P 500  found support at 1500 and is headed for a re-test of resistance at 1525/1530. Bearish divergence on 21-day Twiggs Money Flow warns of mild selling pressure. Breakout above resistance would negate this, while reversal below 1500 and the rising trendline would warn of a correction.

S&P 500

Breach of the secondary trendline (above) would indicate a correction to test primary support at 1350. Recovery of 63-day Twiggs Momentum above 10% would increase likelihood of an upward breakout — with a target of 1750* — while retreat below zero would suggest a primary reversal.

S&P 500
* Target calculation: 1550 + ( 1550 - 1350 ) = 1750
The Nasdaq 100 is weaker, with bearish divergence on 13-week Twiggs Money Flow warning of a primary trend reversal. Breakout below primary support at 2500 would confirm, offering a target of 2100*.
Nasdaq 100
* Target calculation: 2500 + ( 2900 - 2500 ) = 2100 ...

Enhanced by Zemanta

No comments:

Post a Comment