$TSX-TC Update for 08.02.2008

S&P/TSX INDEX - $TSX-TC

Monthly chart shows continued selling during the month of July 2008. The index closed below the 8ema and the up trendline in place. The market found short term support off the .618 fib level of the last leg up. No buy signal/pattern evident on this timeframe.

Weekly chart shows consolidation/trading range shaping up. Index is below all key moving averages on this timeframe. No buy signal/pattern evident on this timeframe.

Daily chart continues to show weakness, with the index trading below the longer term moving averages. Look for consolidation before next leg down.