Category Archives: TSX Index

TSX Index candlestick chart analysis

Spinning Top candlestick for the TSX Index
TSX index candlestick chart showing support and resistance with a spinning top candlestick in a lateral trading band

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.

Candlestick chart analysis – TSX Index

Harami Pattern for the TSX Index
Harami candlestick pattern on the weekly chart of the TSX index indicates the TSX could ease into a congestion band between support of 12,000 and resistance of 12,500

Three-Year Weekly Chart for the TSX Index

We may have a bottom in the recent sell-off but the intermediate trend is still down. Cash is king in this market.

Reference the previous analysis of the TSX Index for the downside risk if the index cannot hold the 12,000 and 11,500 support levels.

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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.

What is the downside risk for the TSX Index?

TSX candlestick chart with support levels
TSX Index candlestick chart with major support levels

TSX Index Three-Year Weekly Chart

The intermediate trend and the near-term trend are both down in the above candlestick chart.

Reference the most recent weekly chart of the TSX Index for September 23, 2011. The TSX Index did not hold the 12,000 support level. The 12,000 level is now resistance on the current chart. The reversal of roles from support to resistance or resistance to support is an important concept in technical analysis.

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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.

TSX Index candlestick chart analysis

Bullish Piercing Pattern for the TSX Index
TSX Index cadlestick chart showing a bullish piercing pattern

TSX Index Three-Year Candlestick Chart

We may have a bottom in the recent sell-off but the intermediate trend is still down. A cash position of at least 50% is prudent in this market.

Reference the previous analysis of the TSX Index.

______________________________

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.

TSX Index chart analysis

Intermediate trend is still down for the TSX

TSX Index chart analysis using candlesticks with support and resistance levels identified on the chart

TSX Index Three-Year Weekly Chart

I am still waiting for a convincing (+2%) consecutive two-day close above 13,500 to set-up a test of major resistance at 14,300.

Reference the previous analysis for the TSX Index.

______________________________

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.

Candlestick chart analysis: TSX Index

Intermediate trend is down for the TSX Index

TSX index candletick chart analysis showing a spinning top candlestick with support and resistance levels

TSX Index Three-Year Candlestick Chart

The TSX Index must make a convincing (+2%) consecutive two-day close above 13,500 to set-up a test of major resistance at 14,300.

Reference the previous analysis for the TSX Index.

Stocks to watch Tuesday: Coca-Cola, J&J, Apple: review this post from MarketWatch. The reaction on the chart is all that counts as each of the companies report earnings.

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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.

TSX Index: Candlestick analysis on the daily chart

Tall dark candlestick is not a good omen for the TSX Index

Candlestick analysis of the tsx index using the daily chart showing a dark candlestick and support levels

TSX Index 6-Month Daily Chart

The TSX Index is in an intermediate downtrend.  There is a support level of 13,000 on the weekly chart but there is a high probability this level will not hold.  The next level to monitor is the reaction low of  12,800. Again, there is a high probability this level will not hold: trading online is all about probabilities.  Cash is the the safest asset class at this stage in the market until we get a better picture of the earnings and the reaction of the the market.

Reference the previous analysis using the weekly chart.

Reference an earlier post highlighting the downside risk for the TSX Index.