The TSX Composite Index is consolidating between 12100 and 12800. Another 13-week Twiggs Money Flow trough above zero would signal a primary up-trend. Breakout above 12500 would strengthen the signal, while follow-through above 12800 would confirm.
* Target calculation: 12750 + ( 12750 – 11200 ) = 14300
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients.
Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter.
Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit.
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.