04/19/2009 Canadian Market Report

Like US market, the TSX is overbought both intermediate-term and short-term so I believe it will pullback along with the US market.

1.4.0 S&P/TSX Composite Index (Daily), possible Bearish Rising Wedge is in the forming, overbought and negative divergence on TOAD and TOUD, ChiOsc bellow is a little bit too high.

1.4.1 S&P/TSX Composite Index (Weekly), STO is way overbought.

1.4.4 TSE McClellan Oscillator, negative divergence on TSE McClellan Oscillator, also TSXA50R is way too high which in the past was likely a market top even in a bull market.