Ahh Canada - 2 out of 3 ain't bad Message Board

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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad

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To: Cush who wrote (5070)	10/18/2014 12:25:34 PM
From: Cush	Read Replies (1) of 5144

The S&P/TSX SmallCap Index, Weekly and Daily - weekend review. On the weekends, I usually begin with a look at the index weekly charts. I am trying to decide whether the tide is rising or falling, or about to reverse. On the weekly chart below, we can see the effects of that Thursday rally. Without that rally, this chart would look bleak! As it is, the weekly close is right at that support/resistance line. CMF has been falling, but is still positive. Based on this Weekly chart, I remain cautious with long positions. This week may change that. Below the Weekly, I have posted the Daily chart. That was a nice oversold rally on Thursday, but Friday showed a cautious market. The ADX line almost reaching 70 often signals a trend reversal. If so, we may rally from here, but I need to see a lot more confirmation. The CMF is still negative and ugly. Going to be another interesting week.

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