Canada’s TSX 60 index found strong support at 700. Rising 13-week Twiggs Money Flow signals buying pressure. Recovery above 720 would indicate a primary advance to 820*; follow-through above 730 would confirm.
* Target calculation: 720 + ( 720 – 620 ) = 820
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.
It looks as tho’ you have a 50% corr. so far with resistance at June low,at approx 60%, It’s quite possible there is a little more to go. You dont show any more indicators as a further backup such as DMI, do you use other indicators to establish more evidence ?
Walter
I try to keep reliance on indicators to a minimum and to focus on the price and volume charts.