S&P/TSX Canadian Mining Index Analysis for 01.20.2008

S&P/TSX CANADIAN MINING INDEX - $SPMN-TC

Monthly chart shows high made in October 2007, where bears have continued to sell the last 3-4 months, taking the index downto close below the 8ema.

Weekly chart shows index to be well below all its key moving averages. No buy signal/pattern evident on this timeframe.

Daily chart shows possible 5 waves down into current support of 653.77. No buy signal/pattern evident on this timeframe.