Bellwether transport stock Fedex is testing resistance at 220. A higher trough on Twiggs Money Flow indicates buying pressure. Breakout above 220 is likely and would signal a primary advance. This is a bullish sign for broad economic activity.
The S&P 500 is retracing to test its new support level at 2480/2500. Declining Twiggs Money Flow warns of medium-term selling pressure. Respect of support would confirm a fresh advance, offering an immediate target of 2600. But breach of support is as likely and would warn of a correction to test the rising trendline around 2420.
The Nasdaq 100 also displays medium-term selling pressure, but with a steeper fall on Twiggs Money Flow. Having failed to break resistance at 6000, a correction is likely, with a target of 5750.