Colin Twiggs' Stock Trading Diary

Colin Twiggs finds the following interesting configurations in the world stock markets.

• S&P 500 - potential cup and handle
  
• Dow Jones - testing resistance at 10700
  
• Transport Indicators - possible top
  
• Nasdaq - rising wedge
  
• Treasury Yields - long-term weakness
  
• Gold - 17-year high
  
• FTSE 100 - cup and handle
  
• Nikkei 225 - gapped up
  
• All Ordinaries - compressed spring delivers

The first 5 are US markets. They suggest that the US markets are positive but quite uncertain. In contrast, the bottom three (All Ordinaries is Australia, where Twiggs is from) are all very strong. So why are the markets in the rest of the world very bullish, while the US markets are only marginally strong? Of course chart reading is all navel gazing anyway, but it's interesting to watch. Twiggs does seem to do a consistent job of interpreting his charts and not to read into them what he wants to see.