Tag Archives: TSX

TSX Index chart analysis

Intermediate trend is still down for the TSX

TSX Index chart analysis using candlesticks with support and resistance levels identified on the chart

TSX Index Three-Year Weekly Chart

I am still waiting for a convincing (+2%) consecutive two-day close above 13,500 to set-up a test of major resistance at 14,300.

Reference the previous analysis for the TSX Index.

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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.

Candlestick chart analysis: TSX Index

Intermediate trend is down for the TSX Index

TSX index candletick chart analysis showing a spinning top candlestick with support and resistance levels

TSX Index Three-Year Candlestick Chart

The TSX Index must make a convincing (+2%) consecutive two-day close above 13,500 to set-up a test of major resistance at 14,300.

Reference the previous analysis for the TSX Index.

Stocks to watch Tuesday: Coca-Cola, J&J, Apple: review this post from MarketWatch. The reaction on the chart is all that counts as each of the companies report earnings.

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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: Candlestick analysis on the daily chart

Tall dark candlestick is not a good omen for the TSX Index

Candlestick analysis of the tsx index using the daily chart showing a dark candlestick and support levels

TSX Index 6-Month Daily Chart

The TSX Index is in an intermediate downtrend.  There is a support level of 13,000 on the weekly chart but there is a high probability this level will not hold.  The next level to monitor is the reaction low of  12,800. Again, there is a high probability this level will not hold: trading online is all about probabilities.  Cash is the the safest asset class at this stage in the market until we get a better picture of the earnings and the reaction of the the market.

Reference the previous analysis using the weekly chart.

Reference an earlier post highlighting the downside risk for the TSX Index.

Technical Analysis: TSX Index

Intermediate downtrend and a near-term uptrend

Candlestick chart analysis of the TSX Index with a bullish shaven head candlestick on the weekly chart

TSX Index Three-Year Weekly Candlestick Chart

The TSX Index must make a convincing (+2%) consecutive two-day close above 13,500 to set-up a test of major resistance at 14,300. At this stage, the TSX is much weaker than the DOW, NASDAQ, or the S&P 500.

Reference the previous analysis to the TSX Index.

TSX Index candlestick chart analysis

Next support level for the TSX is 12,500

Candlestick chart analysis for the tsx index showing support levels and a double top formation at 14,300

TSX Index - Three-Year Weekly Chart

Key points from the above chart of the TSX Index:

  • Intermediate trend is down.
  • Near-term trend is down.
  • Second week below the 200-day simple moving average.
  • The 50-day moving average has crossed below the 100-day moving average.
  • Three bearish candlesticks for the last three weeks.
  • Last week’s candlestick has a shaven bottom.
  • RSI in a downtrend.
  • RSI crossed below 50.

Did I miss any other negative points?  Do you see any positive indicators?

Reference the previous analysis for the TSX Index.

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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.

Will the TSX index hold major support?

Still an ominous chart pattern for the TSX index

Six month daily chart of the tsx index showing a double top with major support and resistance, and confirming indicators of MACD, volume and OBV

Six-Month Daily Chart of the TSX Index

Reference the previous analysis of the TSX Index.

Reference my chart settings for Bigcharts and practice using candlesticks with the confirming indicators.

Update for June 11, 2011: TSX index did not hold major support.  Time to reference the previous weekly chart analysis for the TSX which highlights the downside risk.  Obviously, a relatively high cash position—above 50%—is prudent at this stage in the market.

If the U.S. economy doesn’t rebound solidly, if the European debt crisis worsens, or if China, India or Brazil hits a more-serious speed bump, it will come as a nasty shock to a lot of people, and could send stocks down a lot lower.

Read more………… Dow’s Sixth Straight Down Week Fuels Concern Over More Severe Declines Ahead – WSJ

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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.