Canada’s TSX 60 is retracing to test its new support level at 780. Respect would confirm an advance to 820*. Bearish divergence on 13-week Twiggs Money Flow suggests nothing more than secondary (medium-term) weakness unless there is a crossover below zero. Breach of the rising trendline is unlikely, but would test primary support at 750.
* Target calculation: 780 + ( 780 – 740 ) = 820
TSX 60 VIX is rising but remains bullish.
