India Singapore breakout

By Colin Twiggs
February 21st, 2012 3:00 a.m. ET (7:00 p.m. AET)

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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.

Nifty Index

* 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*.

Sensex Index

* 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.

Nasdaq 100 Index

* Target calculations: 2900 + ( 2900 - 2600 ) = 3200



In my youth I stressed freedom, and in my old age I stress order. I have made the great discovery that liberty is a product of order.

~ Will Durant

Colin Twiggs

Author: Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.

Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.

Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.

He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.