In my humble opinion the TSX has been in an accumulation trading range since Dec 1. We are now coming out of it nicely and holding above. If anyone has ideas to improve this labeling, please let me know. I chose to lable the down move that happened in late Nov as a selling climax instead of an automatic rally because I think it has the character of a selling climax.
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Humm… lets just say I’m less convinced about reaccumulation than I was. Tehere are still chances that we are going through a very major backup action but my hope isn’t too high.
Right now all my trades in canadian companies are to the short side with stock from sectors that underperform the TSX.