Spinning top candlestick represents indecision for the TSX Index

The intermediate trend is still sideways and the near-term trend is up. The spinning top candlestick represents indecision and that about sums up the mood for the TSX Index as it enters the third week of trading for 2012.

Reference last weeks chart analysis for the TSX Index which was also based on the weekly chart.

Relevant articles picked from the Web:

• Milestones that will shape the market in 2012 — Financial Post — Jan 13, 2012
• Copper neared a four-month high in New York — Financial Post — Jan 17, 2012
• Natural gas prices crumble to near 10-year lows — Financial Post — Jan 17, 2012
• Dundee acquires Whiterock in hot market for REITs — Globe Investor — Jan 17, 2012
• Oil demand falling as recession fears mount — Financial Post — Jan 18, 2012

This gloomy forecast should get you thinking:

• World Bank downgrades global outlook — Globe Investor — Jan 17, 2011

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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.

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