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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


Nasdaq approaches 2650 target, S&P 500 finds resistance

Nasdaq 100 index is approaching its target of 2650*. Expect retracement to test the new support level at 2400. Respect would confirm a strong up-trend despite the lower high (bearish divergence) on 13-week Twiggs Money Flow.

Nasdaq 100 Index

* Target calculations: 2400 + ( 2400 - 2150 ) = 2650

The S&P 500 encountered short-term resistance at 1370, indicated by declining 21-day Twiggs Money Flow, but the primary up-trend appears healthy. Retracement that respects support at 1300 would signal trend strength — even better if we have a narrow consolidation below the resistance level.

S&P 500 Index

* Target calculations: 1300 + ( 1300 - 1150 ) = 1450


More....

For more coverage click here:

United States of America (USA) (1K)Canada (1K)United Kingdom(Great Britain) (1K)Germany (1K)France (1K)India (1K)Singapore (1K)Japan (1K)South Korea (1K)Taiwan (1K)Hong Kong (1K)China (1K)Brazil (1K)South Africa (1K)Australia (1K)New Zealand (1K)

Australia: ASX 200 resistance

UK & Europe: Selling pressure

India & Singapore retrace

Singapore SGX: Potential breakouts

Singapore SGX: Top Momentum stocks

Canada TSX: Potential breakouts

Canada TSX: Top Momentum stocks

Prepare for a golden age of gas - FT.com

Treating China as an enemy - Telegraph Blogs

Climate change during the Earth's history ~ Center for Sun-Climate Research

Yen's Fall May Benefit Japan Firms - WSJ.com

Canada's Household Debt Is Rising - WSJ.com

New Push for Reform in China - WSJ.com



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

~ Will Durant

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