The TSX Composite retreated below 12800, indicating hesitancy on the part of investors. Expect retracement to test support at 12500. Failure of support would signal a bull trap. Long-term buying pressure remains strong, with rising 13-week Twiggs Money Flow; another trough above zero would confirm the primary up-trend. Recovery above 12800 would signal an advance to the 2011 high at 14300*.
* Target calculation: 12800 + ( 12800 – 11300 ) = 14300
The TSX Composite broke through 12800, confirming the primary up-trend signaled earlier by a 13-week Twiggs Money Flow trough above zero and 12500 breakout. Expect an advance to the 2011 high of 14300*.
* Target calculation: 12800 + ( 12800 – 11300 ) = 14300
The TSX Composite continues to range between 11200 and 12800, but 13-week Twiggs Money Flow oscillating above zero reflects long-term buying pressure. Breakout above 12500 would signal a primary advance, while follow-through above 12800 would confirm, offering a target of 14000*.
* Target calculation: 12500 + ( 12500 – 11000 ) = 14000
The TSX Composite retreat below 12200 on the daily chart indicates another test of medium-term support at 12000. The rally remains intact as long as support holds. Failure would re-test primary support at 11750/11800, while recovery above 12200 would test resistance at 12500. Rising 63-day Twiggs Momentum suggests a primary up-trend. Breakout would signal an advance to 13250*.
* Target calculation: 12500 + ( 12500 – 11750 ) = 13250
The TSX Composite is headed for another test of resistance at 12500. Breakout would signal an advance, offering a target of 13250*. Rising 63-day Twiggs Momentum suggests a primary up-trend. Reversal below 11750 is unlikely but would test primary support at 11200.
* Target calculation: 12500 + ( 12500 – 11750 ) = 13250
The TSX Composite monthly chart shows the market ranging between 11000 and 12800. Oscillation of 13-week Twiggs Money Flow above zero reflects buying support at 11000. Downward breakout is unlikely, while recovery above 12800 would offer a target of 14000*.
* Target calculation: 12500 + ( 12500 – 11000 ) = 14000
The TSX Composite Index continues to consolidate below 12500. Reversal below 12100 and the rising trendline would warn of another test of primary support at 11200. Reversal of 63-day Twiggs Momentum below zero would strengthen the bear signal. Breakout above 12500, however, would signal a primary advance, while follow-through above 12800 would confirm.
* Target calculation: 12500 + ( 12500 – 11000 ) = 14000
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
