Canada’s TSX 60 is heading for a test of resistance at the 2011 high of 820* after successfully testing its new support level at 780. Rising 13-week Twiggs Money Flow suggests strong buying pressure. Breach of the rising trendline is unlikely, but would warn of a correction.
* Target calculation: 780 + ( 780 – 740 ) = 820
Declining TSX 60 VIX, below 20, flags a bull market.
