The TSX Composite retreated from resistance at 12800. Reversal of 21-day Twiggs Money Flow below zero warns of selling pressure. Breakout below 12650 would confirm a correction. Expect support at 12500.
Rising troughs on long-term (13-week) Twiggs Money Flow, however, suggest that a base is forming. Breakout above 13000 would indicate a primary advance, offering a target of 15000*.
* Target calculation: 13000 + ( 13000 – 11000 ) = 15000