Saturday, January 03, 2009

TSX-TC Update for 01.03.2009


Monthly chart shows tradeable bottom is in place, right at the .786 fib retracement level and the key LIS (old resistance becomes new support).

Weekly chart shows possible 5 waves down into current support. Last week's trading activity resulted in a strong close above the 8ema. Look for continued bear market rally into first upside target at the .382 fib retracement level.

Daily chart shows the market has managed to close above the 8ema, 34ema and the 50sma. Look for continued upside momentum next week.

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