Canada: TSX Composite

[setravis]

Canada: TSX

The TSX Composite is in a similar position to the Nasdaq: retracing to test support at 9500 after a wide double bottom reversal. Respect of support is expected and would confirm the target of 11500, calculated as 9500 + [ 9500 - 7500 ]. Twiggs Money Flow (21-Day) reversal below zero, however, would warn of a test of primary support at 7500.

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Canada: TSX
The TSX Composite found support at 10000, but breakout below the trend channel and bearish divergence on Twiggs Money Flow (21-Day) warn of a secondary correction.

[setravis]

Canada: TSX
TSX Composite breakout below its trend channel warns of a secondary correction, but the bearish divergence on Twiggs Money Flow (21-Day) has weakened. Breakout above 10700 would signal another primary advance, while reversal below 9700 would confirm the secondary correction.

[setravis]

Canada: TSX
The TSX Composite displays a bullish divergence on Twiggs Money Flow (21-Day), indicating buying pressure. Recovery above 10500 would confirm that the correction is over, and breakout above 10700 would signal a primary advance to 12000. Respect of 10500 is less likely, but would warn that the correction continues.

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Canada: TSX...
TSX Composite reached resistance at 11900; breakout would test the April high at 12300. 63-day Twiggs Momentum recovery above zero indicates continuation of the primary advance.

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Canada: TSX...

TSX Composite breached resistance at 11900, signaling a primary advance to 12300. 63-day Twiggs Momentum breakout above zero indicates a start of the up-trend.

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Canada: TSX...

TSX Composite is advancing to 12300. Breakout would offer a target of 13400. Rising 63-day Twiggs Momentum suggests an up-trend.

Target calculation: 12300 + ( 12300 - 11200 ) = 13400

[setravis]

Canada: TSX...
TSX Composite is headed for a test of primary resistance at 12300. Breakout would offer a target of 13400*. Rising 63-day Twiggs Momentum suggests an up-trend.

Target calculation: 12300 + ( 12300 - 11200 ) = 13400

[setravis]

Canada: TSX...
TSX Composite is testing resistance at 12300. October breakout would offer a long-term target of 13400*. A 63-day Twiggs Momentum trough above the zero line would signal an up-trend.

Target calculation: 12300 + ( 12300 - 11200 ) = 13400

[setravis]

Canada: TSX...
TSX Composite short-term consolidation favors continuation of the primary advance to 13400*. Reversal of 21-day Twiggs Momentum below its rising trendline, however, would warn of a correction — but a trough that respects the zero line would confirm the primary advance.

* Target calculation: 12300 + ( 12300 - 11200 ) = 13400

[setravis]

Canada: TSX Composite

Canada: TSX...
The TSX Composite reached its target of 13400*. Bearish divergence on Twiggs Momentum warns of a correction, most likely to test the rising green trendline.

* Target calculation: 13000 + ( 13000 - 12600 ) = 13400

[setravis]

Canada: TSX Composite...

Bearish divergence on Twiggs Money Flow for $CADOW warns of a correction. Breach of the recent rising trendline would suggest a test of the longer-term, green trendline.

[setravis]

Canada: TSX Composite...

Bearish divergence on Twiggs Momentum (and Twiggs Money Flow on the $CADOW) warns of a correction. Breach of the recent rising trendline would suggest a test of the longer-term, green trendline.

[setravis]

Canada: TSX Composite...

CANADA STOCKS-TSX edges higher as golds, financials lead.
Tue Feb 15, 2011 6:02pm EST

   * TSX up 18.58 points, or 0.13 percent, at 13,929.35 * Seven of the 10 main groups rise * Index hovers near 31-month highs.

TORONTO, Feb 15 (Reuters) - Toronto's main stock index
finished modestly higher on Tuesday, with financials and gold
issues leading the gains and offsetting declines among
base-metal miners. The market extended Monday's 1 percent rally when Chinese
trade data, which showed surging imports, gave the
resource-heavy TSX a boost. "The surprise still is on the resilience of the market and
how it does not seem to want to go down," said Ian Nakamoto,
director of research at MacDougall, MacDougall & MacTier. "People have said we're in for a correction. How many
thousand of points have we gone up since then? We're still
waiting for Godot -- it may never happen," Nakamoto said. "Those who are betting for a pullback have certainly
suffered the price of having too much cash on the side." The Toronto Stock Exchange's S&P/TSX composite index
.GSPTSE finished 18.58 points, or 0.13 percent higher, at
13,929.35. Seven of the 10 main groups advanced.

Technology, consumer discretionaries and healthcare were
the three decliners. Among Tuesday's big gainers were Barrick Gold (ABX.TO),
which rose 1.35 percent to C$48.66 and Goldcorp (G.TO), which
gained 1.7 percent to C$43.56. Bullion prices roses to a four-week high as inflation
concerns sparked a technical breakout. The precious metal also
found support as Chinese inflation data came in lower than
expected, easing concerns that the world's second-largest
economy would have to tighten its monetary policy. Lower
interest rates tend to support gold buying. [GOL/] Offsetting the golds' gains was a decline among base-metals
and fertilizer companies. Potash Corp (POT.TO) came off its recent run and gave back
3.39 percent to C$60.63. U.S. grain prices fell as sentiment
turned bearish amid overbought conditions. First Quantum Minerals (FM.TO) slumped 4.15 percent to
128.15, while Teck Resources (TCKb.TO) shed 1.36 percent to
C$58.00. Copper prices fell from record highs, posting their biggest
one-day slide in three weeks, as worries about China's ability
to sustain its rate of growth and its appetite for commodities
resurfaced. [MET/L] [ID:nLDE71E21N]

The overall materials group, home to a broad spectrum of
miners, was up marginally, gaining 0.13 percent. The hefty financial group, which make up nearly 30 percent
of the index made the largest gains and was up 0.43 percent. Manulife Financial (MFC.TO), which bought Milwaukee-based
Optique Capital Management for an undisclosed amount on Monday,
rose 2.41 percent to 18.69. [ID:nN14101128] Energy issues added 0.18 percent, but trading was mixed
within the group alongside choppy oil prices, with U.S. crude
futures ending lower for a third session. [ID:nN15218620] Talisman Energy (TLM.TO) advanced 1.29 percent to finish at
C$22.85, but Husky Energy (HSE.TO) retreated 1.11 percent to
C$27.67 after the oil producer and refiner reported a 5 percent
drop in quarterly profit on Tuesday. [ID:nN14113733] With its recent gains, the TSX is hovering around 31-month
highs and nearing the 14,000-point level. "This market has certainly defied gravity for a long, long
time, so I wouldn't be surprised if we go through 14,000 on a
temporary basis," said Levente Mady, market strategist at Union
Securities. "My inclination is we're definitely looking at a 5 to 10
percent pullback, sooner than later." ($1=$0.99 Canadian)
(Reporting by Solarina Ho; editing by Rob Wilson)

[setravis]

Canada: TSX Composite...
Twiggs Momentum respected the zero line, but Twiggs Money Flow on the $CADOW continues to warn of a correction. Penetration of the recent rising trendline would strengthen the warning, suggesting a test of the longer-term, green trendline.