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.