S&P/TSX 60 held strong Fibonacci resistance at 779/780 last week as predicted & profit taking held just above support at 668. These levels apply for this week. A break below 668 today could target 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 could hold a move higher again. However be ready to go with a break higher for 793 then 798.
Weekly outlook: Resistance at 780 held the topside but a break higher can target 793-798. Failure to beat 780 puts the market under pressure & should target 768 then 760 & possibly as far as 756 for a buying opportunity.