Canada: TSX 60 breakout

By Colin Twiggs
February 27th, 2012 5:00 a.m. ET (9:00 p.m. AET)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use.

The TSX 60 broke through resistance at 720, signaling a primary up-trend. Recovery of 63-day Twiggs Momentum above zero strengthens the signal. Expect retracement to test the new support level, but target for the advance is 790*.

TSX 60 Index

* Target calculations: 720 + ( 720 - 650 ) = 790

Bankers know that history is inflationary and that money is the last thing a wise man will hoard.

~ Will Durant