Intermediate downtrend for the TSX Index and trading below the 200-day simple moving average
TSX Index 3-Year Weekly Chart
Reference the last chart analysis for the TSX Index.
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TSX Index YTD Performance by Sector
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TSX Index down 146 points today with oil, metals and gold leading the plunge.
TSX Index 8-Month Daily Chart
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Reference the last chart analysis for the TSX Index showing the percent of stocks above the 50-day moving average.
Market News: TSX falls; BlackBerry jumps to 1-year high on arbitration win
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“Technical Analysis is about putting the probabilities on your side.”
Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.
© 2017 TradeOnline.ca
The following weekly chart goes back to 2011 and shows the percent of TSX stock above the 200-day moving average. To sustain a bull market, the percent needs to be above 50% and trending up or consolidating. At the present time, this indicator looks good.
TSX Index Weekly Chart
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“Technical Analysis is about putting the probabilities on your side.”
Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.
© 2017 TradeOnline.ca
Have a great trading day. Any questions? Email [email protected]
TSX Index Daily Chart
______________________________
“Technical Analysis is about putting the probabilities on your side.”
Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.
© 2017 TradeOnline.ca
Have a great trading day. Any questions? Email [email protected]
The TSX Index is trading below the 20-day simple moving average and the 50-day simple moving average. On the plus side, it is still above the 200-day moving average. The major trend is up, the intermediate trend is up and the near-term trend is down. RSI is trading below 50 and MACD has crossed the center line. In summary, the near-term picture is negative and I will monitor the chart closely for any further breakdown. The oil sector is the major drag for the TSX Index but financials will incur selling pressure if the oil stocks continue to selloff.
TSX Index Daily Chart
Reference my last chart analysis for the TSX Index.
______________________________
“Technical Analysis is about putting the probabilities on your side.”
Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.
© 2017 TradeOnline.ca
Have a great trading day. Any questions? Email [email protected]