The TSX 60 is testing primary support at 650. Failure would signal a primary down-trend, already indicated by 63-day Twiggs Momentum reversal below zero. 13-Week Twiggs Money Flow, however, continues to reflect reasonable buying pressure so we need to guard against a bear trap.
* Target calculation: 650 – ( 725 – 650 ) = 575
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.