TSE Hits Resistance

With a 3000 point surge the last few months, the S&P TSX Composite ($TSE) broke through resistance and CCI moved above +100. Both events are bullish, but the index looks vulnerable to a pullback. First, CCI moved back below +100. Second, the index is up 3000 points without a correction. Look for broken resistance around 9200-9500 to turn into support.

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Comments

[zee]

To those who study cycle analysis, it looks like we'll get to a bottom in September (not necessarily new lows, but fib retracements of the move higher, contrary to what others think of a slow non-volatile summer.