Toronto's TSX Index closed last Thursday just above major support, as shown on the Daily chart below. At the moment, it is hovering just above this 12000 level during Monday's trading session. Whether or not the recent bullish Golden Cross will be sufficient incentive for the bulls to re-enter this market remains to be seen. A bounce in commodities (gold and oil stocks) could reverse this recent pullback...so far today, they have been unable to hold at their highs of the day and are dropping as I'm writing this. A break and hold below 12000 on the TSX would be very bearish.
I'm also keeping an eye on the YM, ES, NQ & TF...each candle on these four charts below represents three days...the current candle closed on Friday. It's important that the 2011 high hold as support on the ES, otherwise we may see a waterfall drop occur on these four e-mini futures indices.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Tues. Nov. 3 ~ U.S. Presidential Election
* Wed. Dec. 2 @ 2:00 pm ET ~ Beige Book Report
* Fri. Dec. 4 @ 8:30 am ET ~ Employment Data
* Thurs. Dec. 10 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Dec. 16 @ 8:30 am ET ~ Retail Sales Report & Core Retail Sales Report
* Wed. Dec. 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Thurs. Dec. 24 @ 1:00 pm ET ~ U.S. Markets closed for Christmas Holiday
* Fri. Dec. 25 ~ U.S. Markets closed for Christmas Holiday
* Wed. Jan. 6 @ 2:00 pm ET ~ FOMC Meeting Minutes
*** Click here for link to Economic Calendars for all upcoming events