Category Archives: TSX Index

TSX Index candlestick chart analysis

TSX Index is struggling at resistance of 12,200
TSX Index candlestick chart analysis showing the index struggling to break resistance of 12,200

TSX Index 6-Month Daily Candlestick Chart

What can I prognosticate from the above chart? As I have said in the past, it is not a pretty picture for the TSX Index: a gain this year of 0% compared to a gain of 12% for the S&P 500 Index. And a three year gain of 6.7% for the TSX Index compared to gain of 28.9% for the S&P 500 Index.

If the TSX Index can break resistance of 12,200 then it moves into the old trading range with resistance at 12,500. A resolution of the so-called fiscal cliff would be the fundamental news to give a lift for the TSX as traders would move into some of the risk-on trades: oil and materials. But, you have the Eurozone slipping into a recession, tepid growth in the BRIC countries, Iran, and crude price differentials for Canadian producers. And these are just some of the known knowns.

The experts will give you their expert projections for the major indexes. In the end, all you can do is follow the charts when you trade online. Use tight stops on any breakout positions. And, a comfortable cash position will let you have a comfortable sleep. On Friday, the U.S.employment report will move the markets.

Reference my last chart analysis for the TSX Index posted on November 27, 2012.

Relevant articles picked from the Web:

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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.

© 2012 TradeOnline.ca

TSX Index chart analysis

Near-term uptrend for the TSX meeting resistance at 12,200
TSX index chart analysis based on the daily bar chart showing resistance at 12,200.

TSX Index YTD Daily Bar Chart

The reversal of roles is an important concept in technical analysis: old support becomes resistance when it is breached and old resistance becomes support on a breakout. In the above chart, you can see the TSX Index struggling to break resistance at 12,200 which was support in the old trading range. Even if we get a breakout at 12,200 I will dust off my old charts detailing the old trading range of 12,500 to 12,200. The TSX had a dismal three year performance and the risk profile is still to the downside.

Reference the last chart analysis for the TSX Index published on November 9, 2012.

Relevant articles picked from the Web:

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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.

© 2012 TradeOnline.ca

TSX Index technical analysis

Still waiting for a resolution of the lateral trading band
TSX Index still trading in the lateral trading band with support at 12,200 and resistance at 12,500.

TSX Index YTD Daily Chart

A break below support of 12,200 would indicate the start of a near-term downtrend. I would look for support around the 50% retracement zone of 11,900. A break below 11,900 would indicate a test of the 66% retracement zone around 11,700. A break below 11,700 would indicate a test of support on the weekly chart around 11,500. A break below 11,500 would indicate a full retracement of the move from the June low around 11,300. After that, I will have to dust off some of my older charts indicating the major support level of 11,000. An index or stock can fall from its own weight even in the absence of above average volume on the sell-off.

Reference the last chart analysis for the TSX Index based on the weekly chart.

Take a look at the long-term logarithmic chart of the TSX Index for the period 1988 to 2012.

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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.

© 2012 TradeOnline.ca

A dismal three year performance for the TSX Index

Major trend is sideways for the TSX Index
A three year weekly chart for the TSX Index showing the lateral trading band.

TSX Index 3 Year Candlestick Chart

Reference the last chart analysis for the TSX Index based on the daily chart which highlights the intermediate lateral trading band.

Compare this chart for the TSX Index to the three year chart for the S&P500 Index: what a difference.

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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.

© 2012 TradeOnline.ca

TSX Index candlestick chart analysis

Still waiting for a resolution of the lateral trading band
TSX Index still in a lateral trading band with support at 12,200 and resistance at 12,500

TSX Index YTD Daily Candlestick chart

Reference the last chart analysis for the TSX Index.

______________________________

Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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.

© 2012 TradeOnline.ca

TSX Index monthly logarithmic chart 1988-2012

A longer-range perspective for the TSX Index
TSX Index logarithmic chart for the TSX Index showing the long-range trendline.

TSX Index Monthly Logarithmic Chart 1988-2012

A standard procedure in technical analysis is to move from the long-range logarithmic chart to the the short-term charts.

Reference the last chart analysis for the TSX Index based on the daily chart.

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Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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.

© 2012 TradeOnline.ca

Technical Analysis: Sideways consolidation for TSX Index

Waiting for a resolution of the trading range
TSX Index technical analysis showing the trading range of 12,200 to 12,500

TSX Index YTD Daily Candlestick Chart

Reference the last chart analysis for the TSX Index.

______________________________

Note: The above chart analysis is valid as of the publication date. To review current charts click on Home or perform a search. 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.

© 2012 TradeOnline.ca