Canada’s TSX 60 index broke medium-term support at 675, signaling continuation of the secondary correction. Reversal of 63-day Twiggs Momentum below zero warns that the primary down-trend will continue, but 13-week Twiggs Money Flow holding above zero continues to indicate healthy buying pressure. Primary support at 650 is expected to hold and be followed by a rally to test resistance at 725.
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.