Saturday, August 09, 2008

$TSX-TC Update for 08.09.2008


Monthly chart shows increasing selling pressure, with the index closing below its 8ema and below the uptrend line in place. Current support is off the .618 fib level.

Weekly chart shows the index to be in a consolidation pattern before breaking to a lower low this week. No buy signal/pattern evident on this timeframe.

Daily chart shows index closing below its 8ema. Look to next week for better sense of direction.

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