S&P/TSX 60 held strong Fibonacci resistance at 779/780 this week as predicted. We warned the outlook turned negative & we got very close to our target of 668 yesterday. There is a risk of a break below here today for 765/64 & perhaps as far as 761/760.
Above 772/73 is less negative & may allow a move towards 776/777 but 779/780 is expected to hold a move higher again.
Weekly outlook: Immediate resistance at this year's high at 3102. A break higher however is positive & targets 3170/85 next week.