Back to the old trading range
Reference the last chart analysis for the TSX Index posted on Wednesday, July 4, 2012 when the index was trading above the lateral trading band. It was a short reprieve.
The TSX Index has not recovered from the correction that started in March, 2011.There were many technical indicators warning of that correction. Did you recognize the warning signals? I published a number of charts highlighting the warning signals. Did you heed the warnings by liquidating longs, moving into defensive sectors or by shorting the index? The following are some samples from the posts:
Posted March 13, 2011: TSX at an advanced stage in this intermediate swing.
Posted September 26, 2011:There were many early indicators for the 19.6% correction in the TSX Index.
Relevant articles picked from the Web:
- S&P cuts outlooks on Canadian financial firms— MarketWatch — July 27, 2012
Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts with other technical indicators. 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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