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S&P/TSX Composite Index

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Bearish pattern on TSX Composite (and S&P 500 and DJIA)The same bearish pattern is playing out on the TSX, S&P 500 and DJIA. When there is a very sharp selloff it is typically followed by a pullback to the upside and then another leg down. That second leg down sometimes stalls at the prior low, but can also scream right through it. The pattern only looks at the first two legs down. If the price makes a lower low, then potentially a full reversal is in play which would mean more legs to the downside. For more details on this particular pattern, see this article: vantagepointtrading.com
TSX:TSXShort
by CoryMitchell-CMT
Third week of Feb should be strong on the TSXHistorically the third week of February is strong on the TSX. Buy and hold fund managers take advantages of dip to place fresh RRSP money coming in for tax season savings (first 60 days of the year to qualify for the previous year). The charts on the daily shows core technical indicators being bullish so it appears to be safe going long. The S&P is mixed and in the US, the last two weeks of February is generally bearish. Watch carefully and readjust as needed. We have lots of room to run on the Fib retracement and the candles do show higher highs and higher lows which is bullish.
TSX:TSXLong
by UnknownUnicorn2413721
TSX : It not as bad as the media suggests.As always, the media likes to create FUD. In reality, it,s a minor pullback. It's actually a fantastic time to find new opportunities in the market. Think of it as a sale on equities, 15% off regular prices. Who doesn't like a good sale? Maybe add a little more to your long-term ETF's for example. The health sector is in a huge pullback.. mainly the POT stocks. Yesterday may have been the bounce. Look for new opportunities in that sector. Financial sector looks to be about the same thing, just a correction. I am not a financial advisor, use your best judgement. Trade within your means. And always use a stop-loss. Rule #1 should always be capital preservation. I suggest that we all ignore the noise from the media, and just watch our charts for new ideas.
TSX:TSXLong
by 4XRandalll
GSPTSE 250 TORONTO S&P / TSX COMPOSITE INDEX (T.TOR) , 31 Oct.17Index close at 16002.78 on 30 October 2017 Market is in uptrend & reached a new high after broke 15943.10 (previous market high) by the last two session days candles. The last candle (30 October 2017) looks fine (bullish) without any bearish/weakness candle pattern. The broke of the previous resistance (15943.10) should be a buying opportunity (this is the current case now so hold long position) & target will be the downwards breakthrough of the (potential) support trend line applied on the chart. Technical indicators ( macd & momentum oscillator) showed a (-)ve divergence (bearish). If the horizontal support levels broken then sell till next support target below.
TSX:TSXLong
by Ahmedselaraby
Bearish on TSX CanadaLooks extremely bearish and a good long term risk/reward trade is in the works (via ETF or some other instrument). Central Bank of Canada now between a rock and a hard place. allow CAD to continue appreciating and hurt exporters / dissuade foreign investment FED raises rates --> BoC follows pace in lockstep to protect CAD from falling too low (i.e., 60 cent range) or do they protect internal debt bubbles (housing, auto loans, consumer debt) by maintaining interest rates low at the expense of the CAD Regarding point (3) above, remember that CAD can appreciate even if BoC keeps rates low at which point BoC is out of options short of currency injections a la selling CAD on the open market. Macro Justifications Short term effects appreciating CAD hurt exporters and foreign investors (i.e., those looking to invest in Canadian companies --> TSX) Long term effects housing market unsustainable, on the verge of collapse among highest household debt per capita in the world (167% of adjusted household disposable income, Australia sits at 187%) debt of $2.029 trillion dollars on a workforce of 18.4 million out of 36 million population (51%) comes out to $110k debt per worker interest rate increases leading to mortgage debt distress (i.e., cannibalization of consumption in other sectors to make up mortgage payment shortfalls) NAFTA uncertainties? Macro is all about which levers push more in one direction or the other. - can the CAD appreciate in the event of an economic down turn? In turn giving BoC a free hand to stop protecting CAD and lower rates - proximity affect of US inflation on Canada, although Canada experienced relatively no downturn during 2008 - 2009 US meltdown, so same could hold true now (i.e., US growth continues, Canada has economic crisis) From this article: www.bloomberg.com "It takes just a 5 percent increase to inflict the same economic impact as a quarter-point hike in the Reserve Bank of Australia’s cash rate, according to Paul Bloxham, chief economist for Australia at HSBC Holdings Plc, who previously worked at the central bank."
TSX:TSXShort
by PontusTrader
TSX Composite Index Analyst ForecastLonger term into the end of next year the TSX is attractive for bulls. Currently the index may be as much as 6% over the average analyst year end target. Were the analysts too conservative in their 2016 year end forecast? With the fall historically being bearish for markets and oil, a significant pullback ahead seems reasonable. S&P/TSX Composite (GSPTSE) 13,550 Average 2016 forecast 14320 Average Mid 2017 forecast 15333 Average 2017 forecast (investing.com)
TSX:TSXShort
by dime
1
What's next for the TSX Composite Index? According to investing.com, the average of 27 analysts polled in April shows year end target forecast of 13550. Weekly RSI is approaching 60, with the upper weekly bollinger band starting to level off. Technically the chart appears to indicate the price trend is now towards the upper side of the trading range and offering a less attractive 'risk-reward' ratio after achieving over 18% return from lows earlier this year. Trading at a PE of 17x forward earnings estimates the index certainly isn't undervalued. However, in comparison to the decreasing global yields in our contemporary world of NIRP, the TSX index remains attractive to the 'buy and hold' investor for it's dividend yield of nearly 3%. Yield hungry investors may continue to bid up the price of the TSX, as it offers a substantial 'risk premium' spread over 10 year government bond yields. The TSX generally shows a very high correlation to the price of oil (at about 90% on the 20 day average). The index will likely continue to closely track the price movements of WTI going forward. The latest price drop in WTI shows weakness in a resistance level of near $50. Note latest weakness against upper bollinger band. Also weekly RSI of 64 is the highest in 8 months. The 'round figure' of $50 also likely serves as a kind of 'psychological' level in the mind of traders. The B.H. rig count has not only stopped falling and flattened out, but actually seems to be rising. A year ago when the rig count stopped falling, WTI dropped sharply to reach new lows. Canadian investors can own the TSX composite index using the iShares E.T.F. trading under the symbol XIC. American investors can buy the iShares MSCI Canada E.T.F which trades under the symbol EWC, offering access to 85% of the Canadian stock market and a lower yield of 2%. I'm interested to hear from any interested TSX traders and investors. Let's get a dialog going! Please do share your thoughts and insights!
TSX:TSX
by dime
The main Canadian index showing a nice path for the stock marketThe main Canadian index shows a very nice picture telling us to expect sideways action before another upleg materialize to end the advance from the January low. A very nice rally that is running out of steam pretty much like the US market. A good target is around the 14K mark. We will keep an eye on it and we think the top is in, we will let you know. This index has a strong bias towards Financials, Energy and Gold miners thus even if I think it is a good proxy for the overall direction of all markets, it is an even better indicator for those three sector and especially Energy and miners. We see this rally and the upcoming pullback as part of a bigger rally. In other word, we are bullish long term until further notice
TSX:TSX
by yauger
We can't ignored our neighbourTSX Composite Index is an index of the stock (equity) prices of the largest companies on the Toronto Stock Exchange (TSX) as measured by market capitalization. The Toronto Stock Exchange listed companies in this index account for about 70% of market capitalization for all Canadian-based companies listed on the TSX Although this index are not on the priority list of index being monitor in major market news website, it does follow the major market bottom and top in synchrony with DJIA. Many investment grade companies are listed but at current situation, it is a little overbought. There is a big cushion support range between 14178 - 14622, breaking through this level signifies more downside to come.
TSX:TSXShort
by jangseohee