Saturday, March 08, 2008

$TSX-TC Update for 03.08.2008

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

Monthly chart shows no buy signal/pattern evident on this timeframe.

Weekly chart shows an evening star candle pattern completed this week. Look for follow through of increasing selling pressure, and a test of the January low.

Daily chart shows increasing selling pressure during the last two trading days of the past week. No buy signal/pattern evident on this timeframe. Look for test of January low, and for an attempt by the bulls to hold it as support, before they become overwhelmed by the bears as they sell it down to a lower low.

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