Sunday, September 28, 2008

$TSX-TC Update for 09.28.2008

S&P/TSX INDEX - $TSX-TC

Monthly charts show accelerating selling pressure in place. Bears managed to take the index down near its lows for the month. No buy signal/pattern evident on this timeframe.

Weekly chart shows the bulls managed to lose more than half of their gains to the bears the past week. Index remains well below its 8ema and 34ema. No buy signal/pattern evident on this timeframe. Look for continued weakness.

Daily chart shows aggressive selling came into the market with Friday's trading session. No buy signal/pattern evident on this timeframe.

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