India Singapore breakout
By Colin Twiggs
February 21st, 2012 3:00 a.m. ET (7:00 p.m. AET)
India's Nifty Index broke through resistance at 5400, following breakout from its downward trend channel, to signal the start of a primary up-trend. Recovery of 63-day Twiggs Momentum above zero strengthens the signal.
* Target calculations: 18000 + ( 18000 - 15000 ) = 21000
The Sensex Index broke through 18000 to confirm the Nifty signal, following an earlier bullish divergence on 13-week Twiggs Money Flow. Target for the advance is 21000*.
* Target calculations: 1300 + ( 1300 - 1150 ) = 1450
Singapore Straits Times Index cleared resistance at 2900, signaling a primary up-trend. Recovery of 63-day Twiggs Momentum above zero strengthens the signal. Expect retracement to test the new support level.
* Target calculations: 2900 + ( 2900 - 2600 ) = 3200
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