Tag Archives: TSX

Should you invest in the TSX?

TSX Index could not hold the old trading range
TSX Index daily candlestick chart showing the near-term downtrend.  A shooting star candlestick is identified on the chart.

TSX Index Daily Chart courtesy of StockCharts.com

The TSX Index could not hold support of 12,600 in the old lateral trading range. Will the near-term downtrend stop at the support level of 12,300? If not, the TSX will move down to the support level of 12,000.

Should you invest in the TSX? The above chart is your answer. Now take a look at another chart.

Reference the last chart analysis for the TSX Index.

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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.

© 2013 TradeOnline.ca

TSX Index YTD performance

Chart compares TSX Index to S&P 500 Index
TSX Index chart showing the YTD performance compared to the s&P 500.

TSX Index and S&P 500 Index YTD courtesy of StockCharts.com

Reference the last chart analysis for the TSX Index.

Reference the last chart analysis for the S&P 500 Index.

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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.

© 2013 TradeOnline.ca

TSX Index chart showing resistance at 12,900

TSX Index has moved into the old lateral trading range
TSX Index chart analysis showing the near-term uptrend and resistance at 12,900 with support at 12,600.

TSX Index Candlestick Chart

TSX Index chart analysis showing the near-term uptrend and resistance at 12,900 with support at 12,600. The most important points from this chart are the old lateral trading range and the major resistance level of 12,900. Can the TSX break 12,900 before the S&P 500 corrects? There was a feeble attempt on May 22 represented by the shooting star candlestick and a bounce off support the next day. Overall, the TSX index has a weak technical profile.

Reference the last chart analysis for the TSX Index.

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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.

© 2013 TradeOnline.ca

TSX Index YTD sector performance

TSX up 1.44% YTD and Materials down 25.37%
Chart showing the YTD performance of the TSX Index highlighting the financial, energy and materials sectors

TSX Index YTD Performance courtesy of StockCharts.com

Financials (XFN ETF), Energy (XEG ETF) and Materials (XMA ETF) represent approximately 75% of the TSX Index.

Compare this chart for the TSX Index to the chart for the S&P 500 Index.

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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.

© 2013 TradeOnline.ca

TSX Index weekly chart

Yes, the TSX Index index is struggling
A three year weekly candlestick chart for the TSX Index showing support around 12,000 and a major lateral trading range.

TSX Index 3-year Weekly Chart

A dismal chart showing the major lateral trading range with support at 12,000 and major resistance at 12,500.

Reference the last chart analysis for the TSX Index.

Relevant articles picked from the Web:

______________________________

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.

© 2013 TradeOnline.ca

U.S. Commodity Groups YTD Performance

Not a good YTD performance for the major commodity groups
A bar chart showing the absolute performance of the major commodity groups.

US Commodity Groups YTD Absolute Performance courtesy of StockCharts.com

Not a good YTD performance for the major commodity groups and it is reflected in the dismal YTD performance of the the TSX Composite Index.

Reference my chart analysis for copper which is included the industrial metals group in the above bar chart.

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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.

© 2013 TradeOnline.ca

Bullish white candlestick for the TSX Index

Reference the resistance levels for the TSX Index
TSX Index chart analysis showing a bullish white candlestick with resistance at 12,500.

TSX Index Daily Candlestick Chart

Reference the last chart analysis for the TSX Index showing the support zone. It held the support zone right around the 200 day simple moving average. Today, there was movement into the energy and materials stocks which is represented by the tall white candlestick. One day does not make an uptrend and there will be heavy resistance at 12,500.

Relevant articles picked from the Web:

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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.

© 2013 TradeOnline.ca

TSX Index candlestick chart analysis

TSX Index must hold support zone or it will test 11,800
TSX Index in a near-term downtrend and must hold the support zone or it will test 11,800.

TSX Index Daily Candlestick Chart

The last chart analysis for the TSX Index showed it stuck in a lateral trading band with support at 12,600 and resistance at 12,900. That all ended on Wednesday in a big way when the tall dark candlestick crashed through two support levels: 12,600 and 12,500. The trading action today confirmed the near-term downtrend with an open and close below the close for the ominous tall dark candlestick.

The TSX Index now has a new major resistance level of 12,500 (reversal of roles) which was a prior major support level.

The support zone is based on three points:

  1. A 50% retracement of the November intermediate move which would be 12,350
  2. The 200 day moving average at 12,269
  3. The old support level of 12,200

If the TSX Index cannot hold the support zone, there is a high probability of a test of the November low around 11,800.

If you read my previous posts, this surprise drop on Wednesday should come as no surprise. Material and oil related stocks, which represent 45% of the TSX Index, have performed very poorly. Reference a recent post on Dr. Copper.

U.S. Jobs Report will move the market on Friday: most likely to the downside.

______________________________

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.

© 2013 TradeOnline.ca