04/19/2009 Canadian Market Report


Cobra's Market View Private Messaging System shows:


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.

TSXDaily

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

TSXWeekly

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.

TOAD

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