The TSX 60 is in a rising broadening wedge consolidation rather than a trend channel. Downward breakout would threaten primary support at 640 and another decline, while penetration of the descending trendline would suggest that a bottom is forming. Rising 63-day Twiggs Money Flow also indicates that a bottom is forming — especially if we see recovery above zero.
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.