S&P/TSX INDEX - $TSX-TC
Monthly chart shows increasing selling pressure during the month of July 2008. No buy pattern/signal evident on this timeframe.
Weekly chart better shows the increasing selling momentum the past 5 weeks. No buy pattern/signal evident on this timeframe.
Daily chart shows the index stuck in a small consolidation range. Every time the early buyers stepped back into the market, they were met with renewed selling by the bears. Index currently remains below all key moving averages as well as the down trendline in place. The first downside targe of interest is the .618 fib level at the 13,479.52 area, which is directly below current short term support.
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