Well…to be more specific it was a buy on the pullback area designated on the chart below and I opened a position in EWC at $28.08. There is something odd going on with the correlation between the Canadian markets and the U.S. markets. This $TSX seems healthier with the way it’s behaving with the recent run-up where the U.S. markets look tired.

Strong RSI support as we remained well above the 40 level here and we didn’t stay below the support line for very long as buyers snapped up shares. As for now this looks like it’s going higher.

2 Responses to “TSX Is Now A Buy”

  1. Steve Says:

    You’ve got to wonder what kind of strength the index has going forward if the miners do not participate? Let’s also see if the RSI on the 60 min. holds 45-50ish…I’m skeptical. The weekly chart also doesn’t give me any real reason to party like its 1999. lol.

  2. jeff pierce Says:

    I’ll give you the weekly…it doesn’t look all that promising. Let’s see how this signal plays out.

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