Here's an interesting comparison chart posted by one of our BPT members, it shows the S&P 500 and the Canadian TSX with some interesting similarities.
Disregarding all of his comments on the chart for a min, one thing that really stands out to me is the perfect bearish Head and Shoulder pattern that has formed on the TSX with the large rally from the Oct/Nov 2011 lows forming a right shoulder to the H&S pattern. Of course one of the main reasons why the TSX index has lagged relative to the US Market is because the TSX is heavily weighted in commodities, which have lagged since the S&P 500 rally began in late fall 2011. However the bearish pattern is here. I will post our review of the world foreign markets this weekend and see what else stands out. I hope you all have enjoyed your long weekend so far!!
No comments:
Post a Comment