S&P/TSX Canadian Materials Index Analysis for 01.20.2008

S&P/TSX CANADIAN MATERIALS INDEX - $SPMT-TC

Monthly chart shows possible 5 waves up into current resistance. Uptrend current remains intact. No confirmed sell signal/pattern as of yet on this timeframe.

Weekly chart shows last week's price action took back the prior 3 week's gains on index.

Daily chart shows that Friday's price action resulted in a doji. major indecision between the bulls and the bears. Look to the coming week's price action to determine direction.