Saturday, August 23, 2008

$TSX-TC Update for 08.23.2008


Monthly chart shows index to be below its 8ema and the up trendline in place.

Weekly chart shows short term support holding, with bulls stepping back into the market/profit-taking by short sellers. Index remains below all its key moving averages.

Daily chart shows possible 5 waves down from the June 2008 high. IF we have 5 waves down, THEN look for abc 3 wave retracement.

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