04/26/2009 Canadian Market Report

Cobra

I believe short-term the TSX will follow the US market to pullback. 

 

7.4.2 iShares CDN S&P/TSX 60 Index Fund (XIU.TO 30 min), looks like a Bearish Rising Wedge to me, so expect a pullback soon.

 

3.4.2 United States Oil Fund, LP (USO 30 min), oil is way too overbought on the 30 min chart, this is not a good news for TSX which is heavily weighted with the energy related stocks.

 

 

For intermediate-term, I’m not sure because I’ve noticed a possible Ascending Triangle formed on the S&P energy sector, it’d be very good news if it could break above the triangle. But on the other hand, I see negative divergence on TOAD which definitely is not a good sign. Guess we’ll have to wait to see how the market unfolds itself. The key is the oil, if the oil is keep going up, then all the negative divergences will have to wait.

 

5.2.0 Energy Select Sector SPDR (XLE Daily), a possible Ascending Triangle is in the forming.

 

7.4.0 S&P/TSX Composite Index (Daily), pay attention to the negative divergence formed on the TOAD above.

 

7.4.4 TSE McClellan Oscillator, the same negative divergence can be seen on TSE McClellan Oscillator, also TSXA50R is way too high which in the past was likely a market top even in a bull market.

 

thomast

safa

Joywinter

thanks so much for your time

阳光明媚

Bench

thomast

note it's new high friday.
commodity was in rally mood. Will it last long? Doubt it.

catour

DIng Ding

google

班长看看加元呢？长期在什么位置？77 cent 是不是底了？

lwjnbtx

Thank you very much!

javamood

floor

gimy

thanks.

najup

Thanks!

刁得一

1# Cobra
看来关键看xle能不能向上突破了。Thank you, Cobra!

水中花

Thanks a lot, Cobra! The TSX market is very interesting as if inflation goes up, the market index will follow suit.

Cobra

班长看看加元呢？长期在什么位置？77 cent 是不是底了？
google 发表于 2009-4-26 21:04

刚开了一个商品与外汇的版块，俺请的高手来坐镇，你去那里问他吧。

latitude

谢谢cobra

Fan8an

thanks

seafood

seabiscuit

尽管我从不参与Canadian Market, 可觉得Cobra太敬业了，忍不住顶一顶.  

happyface

thanks

rookie

thanks