Technical analysis gives you an objective view of the market.
The TSX is in a consolidation range between 13,200 and 13,500. The snippet to the right is taken from this customized chart for Tuesday, January 25, 2011.
I would consider a break below 13,200 a reason to liquidate some long positions.
Major support is at 13,000 and a break through this level could see a retracement to the 12,500 level.