Tag Archives: TSX

TSX Index candlestick chart analysis

Spinning top candlestick represents indecision for the TSX Index

TSX Index Chart Analysis

The intermediate trend is still sideways and the near-term trend is up. The spinning top candlestick represents indecision and that about sums up the mood for the TSX Index as it enters the third week of trading for 2012.

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

Relevant articles picked from the Web:

Milestones that will shape the market in 2012 — Financial Post — Jan 13, 2012
Copper neared a four-month high in New York — Financial Post — Jan 17, 2012
Natural gas prices crumble to near 10-year lows — Financial Post — Jan 17, 2012
Dundee acquires Whiterock in hot market for REITs — Globe Investor — Jan 17, 2012
Oil demand falling as recession fears mount — Financial Post — Jan 18, 2012

This gloomy forecast should get you thinking:

World Bank downgrades global outlook — Globe Investor — Jan 17, 2011

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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.

TSX Index analysis using the weekly candlestick chart

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Intermediate trend is sideways for the TSX Index

TSX index chart analysis using the weekly chart. The intermediate trend is sideways with a near-term uptrend. The RSI continues to trade below 50.

TSX Index Three Year Chart

Reference the last chart analysis of the TSX Index: not much has changed.

Key points to ponder from the above chart are:

TSX Index has a negative technical profile
Trading below the 200 day moving average
Major trend is down
Intermediate trend is sideways
Near-term trend is up
Continues to hold support of 11,500
Closed above the 100 day moving average
RSI is below 50

Relevant articles picked from the Web

Four things Canadian businesses are telling the Bank of Canada — Financial Post — Jan 9, 2012
Playing the ‘January effect’ — Financial Post — Jan 9, 2012
Oil service stocks about to enter seasonal strong period — Globe Investor — Jan 9, 2012
Rail traffic boom signals Canada may beat growth outlook — Financial Post — Jan 11, 2012
Self-induced sluggishness — Economist — Jan 7, 2012

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Technical Analysis: TSX Index candlestick chart

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Intermediate trend is sideways for the TSX Index

TSX Index candlestick chart showing the index trading in a lateral trading band with support at 11.500.

TSX Index Three Year Chart

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

Key points from the above chart are:

TSX Index has a negative technical profile
Trading below the 200 day moving average
Major trend is down
Intermediate trend is sideways
Near-term trend is sideways
Continues to hold support of 11,500
RSI is trending down and is below 50

Relevant articles picked from the Web

Closing Bell: Mining, energy issues lead declines on TSX — Financial Post — Dec 28, 2011
BRIC decade ends with record outflows as growth slows — Financial Post — Dec 28, 2011
Here comes another year of trading dangerously — Reuters — Dec 30, 2011
You thought 2011 was tough? — Reuters — Dec 30, 2011
How to play dividend stocks in 2012 — Financial Post — Dec 30, 2011
How to play emerging markets in 2012 — Financial Post — Dec 30, 2011
5 reasons why TFSAs are a smart retirement investment — CBC — Dec 30, 2011

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TSX Index chart analysis: Where is Santa?

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Points to monitor on the TSX daily chart

TSX Index chart analysis based on daily candlesticks. Intermediate trend is sideways and the near-term trend is down. RSI is confirming the near-term downtrend.

TSX Index Six Month Daily Chart

Cash is king in this market.

Reference last weeks analysis of the TSX Index using the weekly chart.

Relevant articles picked from the Web:

Managers sell highest paying dividend stocks — Financial Post — Dec 19, 2011
Manulife downgraded amid reduced outlook for lifecos — Financial Post — Dec 20, 2011
Scotia raises gold outlook, upgrades Barrick — Financial Post — Dec 20, 2011
Why gold has lost its luster — Fortune — Dec 20, 2011
Bond ETFs confuse you? Here’s a simple guide — Globe Investor — Dec 16, 2011
In search of cheap stocks that could rebound — Globe Investor — Dec 20, 2011
Three big risks the world faces in 2012: HSBC — Financial Post — Dec 21, 2011
Where to put your money in 2012 — Financial Post — Dec 23, 2011
Why 2012 may be nothing to look forward to — Financial Post — Dec 23, 2011

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The main purpose of TradeOnline.ca is a starting point for your own chart analysis. Technical analysis serves as a guidepost in your daily investment analysis and is used in conjunction with fundamental analysis. There is no magic formula for making profits when you trade online in the stock market. We are all students of the market, and one should never give up reviewing and learning the basics. Visit the Advanced Chart Settings and customize BigCharts so you can review different time periods.

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TSX Index candlestick chart analysis

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Intermediate trend is sideways for the TSX Index

TSX Index candlestick chart analysis showing support and resistance levels. The chart also identifies the major trend, intermediate trend and the near-term trend.

TSX Weekly Candlestick Chart

When the major trend is down, and the intermediate trend is sideways; the best trading decision is to raise cash levels, and stay out of the market.

Reference last weeks analysis of the TSX Index: not much has changed.

What are the critical support levels for the TSX Index?

Critical support levels for the TSX Index — posted Oct 4, 2011

What is a Double Top Reversal Pattern identified in the above chart?

Relevant articles picked from the Web:

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TSX Index chart analysis

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Can the TSX Index break the resistance level of 12,500?

TSX Index Weekly Candlestick chart

Reference the recent chart analyses for the TSX Index:

What are the critical support levels for the TX Index?

Critical support levels for the TSX Index — posted Oct 4

Relevant articles from the Web:

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Technical Analysis: TSX Index monthly logarithmic chart

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TSX Index long-term chart to ponder the big picture

TSX Index chart analysis using the monthly logarithmic chart with major support and crossovers

TSX Index Monthly Logarithmic Chart

I analyze the long-term charts of the major indexes and proceed to the near-term charts. Reference the last chart analysis of the TSX Index based on the weekly chart.

When you invest, you are playing the odds: there is never a certain win in the markets. At this stage, the odds of a major downside correction outweigh the upside. It is prudent to stay on the sidelines with an above average cash position.

Relevant articles from the web:

TSX posts first gain in five days – Financial Post article dated Nov 22, 2011
Storm clouds over economy from China to Europe, U.S. – Globe and Mail article dated Nov 23, 2011
Don’t kid yourself! EU debt crisis could get as bad as 2008 – Financial Post article dated Nov 25, 2011
Option players bet on rebound in shares of big banks – Financial Post article dated Nov 25, 2011
TSX posts fourth-straight weekly decline – Financial Post article dated Nov 25, 2011

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TSX Index candlestick chart analysis

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TSX Index closed below support of 12,000

candlestick chart analysis for the tsx index showing the bearish candlestick pattern with a shaven bottom and the new resistance level of 12,000

TSX Index Candlestick Chart

The intermediate trend is down for the index: cash is king.

The reversal of roles from support to resistance or resistance to support is an important concept in technical analysis. In the above chart, I highlighted a real time example where 12,000 was support on the chart analysis last week. It is now the resistance level for the TSX Index: at least for now.

Reference last weeks chandlestick chart analysis based on the weekly chart.

Financial Post article dated Nov 21, 2011: What you need to know before markets open

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Spinning top candlestick represents indecision for the TSX Index

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Intermediate trend is sideways for the TSX Index

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Intermediate trend is sideways for the TSX Index

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Points to monitor on the TSX daily chart

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Intermediate trend is sideways for the TSX Index

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Can the TSX Index break the resistance level of 12,500?

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TSX Index long-term chart to ponder the big picture

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TSX Index closed below support of 12,000

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