The $TSX finally caught a bid after a nasty downdraft.
This is an excellent move today confirming a push higher. The divergence on the MACD and RSI are very strong. Friday's low looks to be the end of the recent push down.
Most importantly, the $TSX is outperforming the $SPX as shown by the purple area behind the RSI.
My stock market indicators flipped to a buy signal after market close last night. We'll ride it until we can not!
FInally!
Good Trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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