Toronto – TSX Composite Index Analysis

The first chart below is a 4-year, 2-day period chart along with some key technical levels & my analysis on the $TSX (Toronto Stock Exchange/TSX Composite) as requested by member @jiunit23 in the trading room. This leading Canadian index is trading between support (14931) & resistance (15875) following the initial correction off the early January divergent high & subsequent oversold bounce off support. While the near-term outlook is unclear, as of now I favor a continued move down to at least the 14475ish level in the coming months. $TSX 4-yr, 2-day chart March 29th This next chart below is [...]

2018-03-29T15:13:33+00:00Mar 29, 2018 3:13pm|Categories: Equity Market Analysis|Tags: , |1 Comment

$TSX Composite Backtesting Wedge Following Failed Breakout

Member @lee1 requested an update on the $TSX within the trading room. In reviewing the charts, I figured that the recent technical developments in Canada's largest index warrants a front page post at this time. $TSX weekly April 7th In the previous update, I had pointed out the recent 'double-tap' overbought cluster as well as the mature bearish rising wedge confirmed with negative divergences. Price were right on the bottom of the wedge at that time, threatening a breakdown which followed shortly afterwards. That wedge breakdown also followed a failed breakout, to new highs in the $TSX, which could [...]

2017-04-07T12:06:51+00:00Apr 7, 2017 12:05pm|Categories: Equity Market Analysis|Tags: , |Comments Off on $TSX Composite Backtesting Wedge Following Failed Breakout

$TSX, TD & Canadian Bank Stocks

This is a follow-up to the outlook for the Canadian bank sector published on Wednesday as well as a request from @lee1 for analysis on the $TSX. So far, one of the 3 major Canadian banks covered in that post has already went on to play out for the 5-6% correction that was expected, with TD (The Toronto Dominion Bank) trading down exactly 5% so far today and not by mere coincidence, dancing on that horizontal support/target level around 49.20 for most of the afternoon so far today. Posted below are Wednesday's & today's daily charts for TD: Today's [...]

2017-03-10T15:45:43+00:00Mar 10, 2017 3:45pm|Categories: Equity Market Analysis|Tags: , , |4 Comments

$TSX Toronto Stock Exchange Poised for a Correction

It appears likely that the $TSX (S&P/TSX Composite Index) is headed back down to at least the 14962 area following the recent failure at the 2014 all-time highs. Note the large negative divergences that have been building & were recently confirmed with the PPO, MACD & RSI all turning back down following the recent failure at the 2014 highs. First chart below is a 2-day period chart spanning 4 years followed by a daily chart spanning 2 years showing the next potential support/downside target, should the $TSX fail to hold any test of the 14960ish resistance level. $TSX 4 year, [...]

2017-03-08T21:19:14+00:00Jan 31, 2017 12:12pm|Categories: Equity Market Analysis|Tags: , , |Comments Off on $TSX Toronto Stock Exchange Poised for a Correction

Global Equity Markets Poised To Fall

Let's take a quick look at some of the major global stock markets from a longer-term perspective (10-year weekly charts). Starting with the S&P 500, with prices recently rolling off the top of the large broadening wedge pattern as well as the recent bearish cross on the weekly PPO, along with many other factors, it looks like the SPX is headed to at least the 1820 support level in the coming weeks to months. S&P 500 10-year weekly Sept 18th By nearly all accounts, it appears that the 29% bear market in the Tokyo Nikkei Index since the mid-2015 [...]

2017-03-08T21:19:31+00:00Sep 18, 2016 8:52pm|Categories: Equity Market Analysis|Tags: , , , , , , , , , |11 Comments

Global Equity Markets Analysis (video)

A look at the major non-U.S global stock indices in the following order: $AORD (Australia), $TSX (Canada), $BSENX (India), $NIKI (Japan), $SSEC (China), $FTSE (England), $HKHS (Hong Kong), $DAX (Germany), & $CAC (France). A separate video covering the outlook for the US equity markets is uploading to YouTube now & will be posted later today (or you can visit the RSOTC YouTube channel to view it shortly).

2017-03-08T21:19:50+00:00May 1, 2016 4:41pm|Categories: Equity Market Analysis|Tags: , , , , , , , , |2 Comments

Select Global Equity Markets Breaking Out

As a follow-up to Sunday's Global Equity Markets Overview video, two of the three of the countries that I had highlighted as setting up bullishly have since made clear breakouts of the patterns and/or resistance levels that were highlighted. $TSX (Toronto Stock Exchange) has broken out of the bull flag pattern that was highlighted in Sunday's video. One way for those of us 'yankees' to gain direct & diversified exposure to Canada is through EWC is the iShares MSCI Candadian Index Fund ETF. I also plan to scan for any attractive $TSX listed stocks this week, with any standouts to be [...]

2017-03-08T21:19:52+00:00Apr 13, 2016 10:29pm|Categories: Equity Market Analysis|Tags: , , , , , |3 Comments