Saturday, February 09, 2008

$TSX-TC Update for 02.09.2008

S&P/TSX COMPOSITE - $TSX--TC

Monthly chart shows index currently below the up trendline in place. It is also below its 8ema. No buy signal/pattern evident on this timeframe.

Weekly chart shows that last week's trading activity took back most of the prior week's gains. No buy signal/pattern evident on this timeframe.

Daily chart shows "old support becoming new resistance", as early bulls were met with more bears "selling into strength". IF Thursday's low hold, THEN look for a re-test of the current high.

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