Canada’s TSX 60 is testing the January high at 806. Higher troughs on 13-week Twiggs Money Flow suggest strong buying pressure. Breach of the rising trendline is unlikely, but would warn of another test of primary support at 770. Expect long-term resistance at the 2011 high of 820*.
* Target calculation: 780 + ( 780 – 740 ) = 820
New lows on the TSX 60 VIX flag a strong bull market.
