TSX Index long-term chart to ponder the big picture
I analyze the long-term charts of the major indexes and proceed to the near-term charts. Reference the last chart analysis of the TSX Index based on the weekly chart.
When you invest, you are playing the odds: there is never a certain win in the markets. At this stage, the odds of a major downside correction outweigh the upside. It is prudent to stay on the sidelines with an above average cash position.
Relevant articles from the web:
- TSX posts first gain in five days – Financial Post article dated Nov 22, 2011
- Storm clouds over economy from China to Europe, U.S. – Globe and Mail article dated Nov 23, 2011
- Don’t kid yourself! EU debt crisis could get as bad as 2008 – Financial Post article dated Nov 25, 2011
- Option players bet on rebound in shares of big banks – Financial Post article dated Nov 25, 2011
- TSX posts fourth-straight weekly decline – Financial Post article dated Nov 25, 2011
The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.
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.
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