Tag Archives: TSX

Bullish shaven head candlestick for the TSX Index

Increased probability for the TSX to test 12,800
Bullish shaven head candlestick on the weekly chart of the TSX Index.  The index will test resistance of 12,800.

TSX Index 3 Year Weekly Chart

Reference the last chart analysis for the TSX Index published on August 31, 2012.

Must read articles from the Web:

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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.

© 2012 TradeOnline.ca

TSX Index candlestick chart analysis

Not an encouraging candlestick pattern on the weekly chart
TSX Index candlestick chart analysis showing volume and RSI.

TSX Index 3 Year Weekly Chart

Reference the last chart analysis for the TSX index based on the daily chart.

Must read articles from the Web:

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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.

© 2012 TradeOnline.ca

TSX Index candlestick chart analysis

TSX Index must hold 12,000 or it will test 11,500
TSX Index candlestick chart analysis showing the support and resistance levels.

TSX Index YTD Daily Candlestick Chart

Reference the last chart analysis for the TSX Index posted on August 17, 2012.

Must read articles picked from the Web:

______________________________

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.

© 2012 TradeOnline.ca

Technical analysis of the TSX Index

12,000 is now the critical support level
TSX Index in a near-term uptrend with a breakout above the lateral trading band.

TSX Index 1 Year Daily Bar Chart

A well constructed chart is like a good photograph: both do not require much written explanation to tell the story. Take your cue from the market and trade accordingly.

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

Relevant articles picked from the Web:

______________________________

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.

© 2012 TradeOnline.ca

TSX Index: A dismal technical profile

Stuck in a lateral trading range
TSX Index bar chart shows the inability of the index to breakout of the lateral trading range.

TSX Index 1 Year Bar Cahrt

The lateral trading range sets the limits where the short-term traders will buy and take profits. This is a profitable trading strategy if you are nimble and have the proper trading systems in place. The recent high of 11,900 is an obvious resistance point and the even number of 12,000 near the 200 day moving average will be a key recent point.

What do we have to see for the intermediate period trader? The TSX Index will have to make a confirmed break above 12,000 to have a chance for a run at 12,800. A confirmed break using a filter of 2% would be 12,240 that holds for two days which is the time filter. This is a guideline to guide you in your trading decisions. Technical analysis is not infallible as the markets are governed by the human emotions of greed and fear. And these are powerful forces which can produce severe gyrations in the market.

Always trade in the direction of the prevailing trend. What is the major trend for the TSX Index? What is the intermediate trend? What is the near-term trend? You decide and make the appropriate trading decision. It is your money.

Reference the last chart analysis of the TSX Index posted on July 6, 2012.

Relevant articles picked from the Web:

______________________________

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.

© 2012 TradeOnline.ca

TSX Index chart analysis

Back to the old trading range
TSX Index chart analysis showing the index back to the old lateral trading range.

TSX Index 1 Year Daily Bar Chart

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:

______________________________

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.

© 2012 TradeOnline.ca

TSX Index candlestick chart analysis

Breakout above near-term lateral trading range
Breakout for the TSX Index above the lateral trading range.

TSX Index 6 Month Daily Chart

What are the important points from the above chart of the TSX Index?

  1. The TSX Index still has an overall negative technical profile.
  2. The major trend is sideways.
  3. The intermediate trend is down.
  4. The near-term trend is up.
  5. Trading below the 200 day simple moving average.
  6. A positive is the breakout above the lateral trading range.
  7. The new support level (was the last resistance level) is 11,800.
  8. If the TSX cannot hold above 11,800, we are back to the same old story.
  9. Resistance is now 12,000 which is near the 200 day simple moving average.
  10. Major resistance is 12,800.
  11. Volume is a secondary indicator.
  12. An increase in volume is necessary to maintain the near-term uptrend.
  13. OBV is a secondary indicator confirming the near-term uptrend.
  14. RSI is a secondary indicator confirming the near-term uptrend.
  15. Don’t forget to review a 5 year weekly chart for the TSX Index.

Reference the last chart analysis for the TSX Index posted on June 25, 2012 showing the lateral trading range.

You can review all the past charts for the TSX Index.

Relevant articles picked from the Web:

______________________________

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.

© 2012 TradeOnline.ca