TSX 60 rally

Canada’s TSX 60 index is headed for a test of the descending trendline and resistance at 730 — another bear market rally.  13-Week Twiggs Money Flow oscillating around the zero line indicates hesitancy. Respect of resistance would indicate another test of support at 650*.

TSX 60 Index

* Target calculation: 650 – ( 730 – 650 ) = 570

TSX 60 finds support

Canada’s TSX 60 index found support between 620 and 650. A rally to test resistance at 730 is indicated, but the primary trend is down and 13-week Twiggs Money Flow continues to signal selling pressure. Reversal below 650 would warn of a decline to 580*.

TSX 60 Index

* Target calculation: 650 – ( 720 – 650 ) = 580

TSX 60 breaks support

Canada’s TSX 60 index broke support at 650, while declining 13-week Twiggs Money Flow signals rising selling pressure. Expect another down-swing with a target of 580*.

TSX 60 Index

* Target calculation: 650 – ( 720 – 650 ) = 580

Canada: TSX 60 bull trap

TSX 60 Index also displays an evening star warning. Reversal below 660 would complete a bull trap, indicating a down-swing to 590*. 21-Day Twiggs Money Flow below zero warns of (medium-term) selling pressure.

TSX 60 Index

* Target calculation: 660 – ( 730 – 660 ) = 590

Canada: TSX 60

The weekly TSX 60 chart respected resistance at 730 and is retreating to test support at 650/660. Decline of 13-week Twiggs Money Flow below zero warns of further selling pressure. Failure of support would offer a target of 590*.

TSX 60 Index

* Target calculation: 660 – ( 730 – 660 ) = 590

TSX 60 retreats

The TSX 60 Index retreated to test its rising trendline at 705. Penetration would warn of a test of primary support at 665. And failure of support would signal another down-swing with a target of 600*.

TSX 60 Index

* Target calculation: 665 – ( 735 – 665 ) = 595

TSX60

TSX 60 Index is testing resistance at 725/735. 13-Week Twiggs Money Flow oscillating around zero indicates hesitancy. Resistance is likely to hold and reversal below the week’s low at 700 would warn of another test of support at 650/660. In the medium term, failure of support would offer a target of 580*.

TSX 60 Index

* Target calculation: 650 – ( 720 – 650 ) = 580

TSX 60 headed for long-term support

Canada’s TSX 60 Index is falling sharply, headed for medium-term support at 665, but long-term support at 650 is just below. Breakout below 650 would warn of another down-swing, with a target of 580*.

TSX 60 Index

* Target calculation: 650 – ( 720 – 650 ) = 580