S&P breakout confirmed
By Colin Twiggs
January 23rd, 2012 3:00 a.m. ET (7:00 p.m. AET)
The S&P 500 breakout above 1300 suggests a primary advance to 1450*. Rising 13-week Twiggs Money Flow indicates buying pressure.
* Target calculations: 1300 + ( 1300 - 1150 ) = 1450
The signal was confirmed by similar breakouts on Dow Industrials and the Nasdaq 100, the latter offering a target of 2750*.
* Target calculations: 2400 + ( 2400 - 2050 ) = 2750
Dow Transportation Index also completed a higher trough, signaling a primary up-trend. 63-day Twiggs Momentum recovery above zero strengthens the signal.
* Target calculations: 5050 + ( 5050 - 4550 ) = 5550
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