The TSX 60 found support at 700, with 13-week Twiggs Money Flow — oscillating above zero — reflecting continued long-term buying pressure. Expect a test of the 2012 high at 725; breakout would signal a primary up-trend. Reversal below 700 is unlikely but would warn of another test of primary support at 640.
* 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.