Australia's top technical trader is Colin Twiggs. He is a highly respected author of books and known for his astute knowledge of stocks, commodities, and currencies.

Generally Colin sticks to his charts but he applied some interesting commentary with this latest FTSE 100 chart below. Keep in mind that Colin is one of the best due to his extensive experience.

No proof of manipulation eh - VHF

Markets On A String

By Colin Twiggs
May 17, 4:00 a.m. ET (6:00 p.m. AET)

Market Intervention

Earlier in the week, while conceding that there was clear evidence of central bank intervention in the currency markets, I dismissed intervention in the stock markets as fanciful. Now I am not so sure. There are no signs of anything untoward on the Dow, apart from the index rising on suspiciously low volumes. However, there are clear signs of co-ordinated support on the FTSE 100 — while volumes, again, are unusually low. The market normally has a pulse, ebbing and flowing every few days, even when in a narrow consolidation. From April 21, the pulse disappeared, with the index flat-lining at fixed levels of 6050, then 6090, then 6200. That is a decidedly odd pattern for a market index and is normally encountered in currency or treasury markets when there is central bank intervention.