By Colin Twiggs
September 18th, 2012 9:00 p.m. ET (11:00 a.m. AET)
Dow Jones China index is retracing to test primary support at 245. Declining 63-day Twiggs Momentum, below zero, continues to indicate a primary down-trend. Failure of support would offer a target of 200*.
* Target calculation: 250 - ( 300 - 250 ) = 200
Hong Kong's Hang Seng penetrated the descending trendline at 22000, indicating an advance to 22000. Recovery of 63-day Twiggs Momentum above zero suggests a primary up-trend. Breakout above 22000 would confirm.
India's Sensex broke through 18500, confirming the primary up-trend. The trough above zero on 13-week Twiggs Money Flow indicates buying pressure. Expect retracement to test the new support level.
* Target calculation: 18.5 + ( 18.5 - 16.0 ) = 21.0
Singapore's Straits Times Index respected support at 3000. Rising 63-day Twiggs Momentum, above zero, indicates a primary up-trend. Follow-through above 3100 would indicate an advance to 3300*.
* Target calculation: 3000 + ( 3000 - 2700 ) = 3300
Japan's Nikkei 225 is testing resistance at 9200. Breakout would signal a primary advance to 10200. Recovery of 13-week Twiggs Money Flow above zero indicates rising buying pressure.
* Target calculation: 9200 - ( 9200 - 8200 ) = 10200
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