Canada: TSX good to go

Shallow retracement of the TSX Composite below resistance is a bullish sign. Rising troughs on 13-week Twiggs Money Flow indicate strong buying pressure. Breakout above 12900 would confirm a primary advance. Immediate target would be 13500*, with a long-term target of the 2011 high at 14300.

TSX Composite Index

* Target calculation: 13000 + ( 13000 – 12500 ) = 13500

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