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Nasdaq Threatens Breakout

By Colin Twiggs
May 12th, 2017 12:30 a.m. EDT (2:30 p.m. AEST)

First, please read the Disclaimer.


The Nasdaq 100 is testing resistance at 7000. Breakout would signal a fresh primary advance. A completed Twiggs Money Flow trough above zero would strengthen the signal.

Nasdaq 100

Volatility on the S&P 500 remains elevated, in the amber zone between 1% and 2%, but is falling fast. A large trough above 1.0% would warn that risk is elevated and more downside is likely to follow, while a fall below 1.0% would signal a return to business as usual.

S&P 500 and Twiggs Volatility

Dow Jones Industrial Average is consolidating above support at 23500. Breakout above 25000 would suggest another advance with an eventual target of 29500.

Dow Jones Industrial Average

Dow Jones Transport Average shows a similar pattern, with consolidation above 10000. Breakout above 10800 is likely and would confirm a breakout on the Industrial Average.

Dow Jones Transport Average

Old man Partridge's insistence on the vital importance of being continuously bullish in a bull market doubtless made my mind dwell on the need above all other things of determining the kind of market a man is trading in. I began to realize that the big money must necessarily be in the big swing. Whatever might seem to give a big swing, initial impulse, the fact is that its continuance is not the result of manipulation by pools or artifice by financiers, but depends upon basic conditions. And no matter who opposes it, the swing must inevitably run as far and as fast and as long as the impelling forces determine.

~ Jesse Livermore

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Disclaimer

Colin Twiggs is director of The Patient Investor Pty Ltd, an Authorised Representative (no. 1256439) of MoneySherpa Pty Limited which holds Australian Financial Services Licence No. 451289.

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