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ASX falls as Dow weakens

By Colin Twiggs
November 4, 2016 6:30 p.m. EDT (9:30 a.m. AEDT)

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I am not a licensed investment adviser. Everything contained in this web site, related newsletters, training videos and training courses (collectively referred to as the "Material") has been written for the purpose of teaching analysis, trading and investment techniques. The Material neither purports to be, nor is it intended to be, advice to trade or to invest in any financial instrument, or class of financial instruments, or to use any particular methods of trading or investing. Advice in the Material is provided for the general information of readers, viewers and course attendees (collectively referred to as "Readers") and does not have regard to any particular person's investment objectives, financial situation or needs. Accordingly, no Reader should act on the basis of any information in the Material without properly considering its applicability to their financial circumstances. If not properly qualified to do this for themselves, Readers should seek professional advice. Investing and trading involves risk of loss. Past results are not necessarily indicative of future results. The decision to invest or trade is for the Reader alone. I expressly disclaim all and any liability to any person, with respect of anything, and of the consequences of anything, done or omitted to be done by any such person in reliance upon the whole or any part of the Material.

Global

Dow Jones Global Index broke support at 316, signaling a decline to 290/300. Reversal of 13-week Momentum below zero would warn of a primary down-trend. A lot rides on the upcoming election.

DJ Global Index

Dow Jones Industrial Average broke support at 18000, warning of a test of primary support at 17000. Bearish divergence on Twiggs Money Flow indicates long-term selling pressure. Recovery above 18500 is unlikely but would signal another primary advance.

Dow Jones Industrial Average

The S&P 500 broke support at 2100, warning of a test of primary support at 2000. Declining Twiggs Money Flow indicates medium-term selling pressure. Recovery above 2200 is unlikely at present but would signal another advance.

S&P 500 Index

Australia

The ASX 200 broke primary support at 5200, signaling a primary down-trend. Decline of Twiggs Money Flow below zero warns of strong selling pressure. Expect retracement to test the new resistance level. Respect would confirm the target of 4750.

ASX 200

ASX 300 Banks Index displays strong long-term selling pressure on Twiggs Money Flow. Breach of 7500 would warn of a test of primary support at 7200.

ASX 300 Banks

.....That's plain hokum. It's an old political trick: "If you can't convince 'em, confuse 'em."

~ Harry Truman, September 1948



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