The TSX 60 is retracing to test support at 700. Respect would indicate an advance to the 2012 high of 725. Rising 63-day Twiggs Momentum suggests a primary up-trend; a trough above zero would strengthen the signal. Only breakout above 725 would confirm.
* Target calculation: 725 + ( 725 – 640 ) = 810
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.