TSX Index up 7.74% YTD
Energy, Financial and Materials represent 75% of the TSX Index. The Materials sector which represents 16% of the TSX index is down 31.89% YTD. This sector is heavily weighted to gold producers and there is not a ray of light on the horizon for gold or base metals. Reference my chart analysis for copper.
In summary, with the huge underperformance by materials there is a low parbability that the TSX can break major resistance of 13,500.
Reference the sector performance for the S&P 500 Index which is a stark contrast to the TSX sector performance.
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