GDP rises but Dow hesitant

By Colin Twiggs
October 28, 2016 9:30 p.m. EDT (12:30 pm AEST)

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Dow Jones Global Index continues to test support at 316. Respect of the rising trendline followed by recovery above 328 would complete a bullish inverted scallop (like an upside-down fish hook) signaling another strong advance. Breach of 316 is equally likely, however, and would offer a target of 290/300.

DJ Global Index

North America

Quarterly GDP improved to an annual rate of 2.8%, following the recent rise in private weekly earnings. GDP Q3

Bellwether transport stock Fedex respected its new support level at 170. Follow-through above 180 would confirm a primary advance, indicating rising economic activity in the US.


Bearish divergence on Twiggs Money Flow continues to warn of long-term selling pressure on the Dow Jones Industrial Average. Breach of 18000 would warn of a test of primary support at 17000. Recoverty above 18500 is less likely but would signal another primary advance.

Dow Jones Industrial Average


The ASX 200 is headed for a test of primary support at 5200. Breach is likely and would signal a primary down-trend. Declining Twiggs Money Flow, below zero, warns of strong selling pressure.

ASX 200

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~ Will Durant, The Story of Philosophy