Spinning Top candlestick for the TSX Index
TSX Index Three-Year Weekly Candlestick Chart
The intermediate trend is down and the near-term trend is sideways: cash is king at this stage in the market. I am monitoring the support and resistance levels as indicated in the above chart. A break below the support level of 12,000 would be an indication to liquidate more of your long positions.
Reference the last chart analysis for the TSX index.
Reference this chart if the TSX Index cannot hold support at 12,000: What is the downside risk for the TSX?
Interesting Financial Post article: The period of seasonal strength in the technology sector is approaching. What can investors expect this year?
What do you think of this article from the Globe and Mail: Sideways market can bring decent returns.
Sept 23, 2011 article, MarketWatch: Copper, coal: crystal balls for the global economy Commodities show gloomy outlook, but are worth a closer look.
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Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.