The TSX 60 continues to test primary support at 640. Positive sentiment on US markets and from Greek election results is likely to fuel a rally. Breakout above 670 would confirm. Breach of the descending trendline would warn that a bottom is forming. Recovery of 63-day Twiggs Momentum above zero would complete a large bullish divergence, suggesting a primary up-trend. Respect of zero, however, would indicate continuation of the down-trend.
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.