Tag Archives: TSX

TSX Composite Index chart analysis

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TSX Index intermediate uptrend and resistance levels
Chart analysis for the TSX Composite Index showing the intermediate uptrend with resistance levels. RSI and volume are confirming the uptrend.

TSX Composite Index Weekly Chart

The 12,800 level near the February, 2012 intraday high of 12,788 has been a significant support and resistance level back to June, 2011 when it acted as support. Then it was a resistance level in September, 2011. The reversals of roles in an important concept in technical analysis. I  want to see a confirmed close around 12,900 that holds for two days before the 12,800 price zone is declared a new support level.

The TSX Composite Index has the momentum to breakout above near-term resistance of 12,788 which was the February, 2012 intraday high. But; the materials and oil sectors, which have a 45% weighting in the index, are not participating in the advance. These two sector will have to move upward to sustain the intermediate uptrend in the TSX Index to the 13,500 resistance level. And for these two sectors to move, the underlying commodities have to move upward. But, there is no intermediate uptrend for gold, silver, copper, or oil. And, then there is the frustrating Canadian crude differential partly due to pipeline constraints. And, then there is the low North American price for natural gas.

Reference the last chart analysis for the TSX Index posted on January 10, 2013.

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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 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.

© 2013 TradeOnline.ca

TSX Index daily bar chart analysis

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TSX Index has a new support level and a chance to test 12,800
TSX Index chart analysis showing the new support level of 12,500 and a chance to test resistance of 12,800.

TSX Index 1-Year Daily Bar Chart

The reversal of roles is an important concept in technical analysis. Yes, I am ready to declare a new support level of 12,500 and a chance for the TSX to test resistance 12,800.

Reference the last chart analysis for the TSX Index showing the resistance level of 12,500.

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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 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.

© 2013 TradeOnline.ca

TSX Index daily candlestick chart

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TSX Index and another chance to hold 12,500
TSX Index chart analysis showing the index closing again above 12,500. Now there has to be follow-through above the bullish shaven head candlestick.

TSX Index 6-Month Candlestick chart

This is the second close this week above resistance of 12,500. Now there has to be follow-through on the bullish shaven head candlestick if the the TSX Index is to hold above resistance. Then there will be a new support level (reversal of roles) of 12,500 and an increased probability for the index to test major resistance of 12,800. As you can see from the above candlestick chart, the TSX Index has struggled to breakout above resistance of 12,500 since September, 2012 and I could go back further on the weekly chart where 12,500 was a significant resistance point.

What is the trend for the TSX Index? The near-term trend is up, the intermediate trend is up and the major trend is sideways.

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

© 2013 TradeOnline.ca

TSX Index candlestick chart analysis

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TSX Index fails to breakout above resistance of 12,500
TSX Index candlestick chart analysis showing the failure at resistance of 12,500.

TSX Index 6-Month Daily Chart

Reference the last chart analysis for the TSX Index published on December 17, 2012.

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 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.

© 2013 TradeOnline.ca

U.S. Treasury 10-Year Note bar chart

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Near-term uptrend with resistance at 1.90%
Chart analysis for the U.S. Treasury 10-Year Note showing the near-term uptrend with resistance at 1.90%. The intermediate trend is sideways and the major trend is down.

U.S. Treasury 10-Year Note

The near-term trend is up for the 10-year note which represents the movement of capital from the relative safety of the U.S. Treasury to other asset classes. The S&P 500 Index at 1,446 is above resistance levels of 1,425 and 1,440 with the financial sector being a big winner. There is hope that the U.S. will not drive over the so-called fiscal cliff as politicians do what they do best: talk with no action.  But hope will not sustain the advance in stocks and the U.S. Treasury for much longer. Some sort of resolution to the fiscal mess would see the yield breakout above resistance of 1.90% and a continuation of the near-term uptrend in major U.S. stock indexes. But and there is always a but when you trade online, the major trend is still down for the U.S. Treasury and the intermediate trend is sideways.

For the TSX Index (weighted to oil and material stocks) it would take a confirmed resolution of the fiscal cliff and some good economic numbers out of China to move this Canadian index. And even this may not do the job as caution is the prevailing mood as we end 2012 and will be the prevailing mood as we enter 2013.  It has been a dismal three year performance for the TSX Index relative to the U.S. Indexes.

Reference the last chart analysis for the this U.S. Treasury Note.

______________________________

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 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 of the TSX Index

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TSX back to the trading range of 12,200 to 12,500
TSX Index one year daily bar chart with support and resistance levels. Back to the old trading range of 12,200 to 12,500

TSX Index 1-Year Daily Bar Chart

The resistance level of 12,200 identified on the last chart of the TSX Index is now the support level. The reversal of roles is an important concept in technical analysis.

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 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

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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:

______________________________

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

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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:

______________________________

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