tsx priced in goldUsually not good for the US economy when Canadian stock markets plunge versus gold.
TSX trade ideas
The TSX is forming a rare Head & Shoulders top reversal patternA head and shoulders top is a common chart pattern in technical analysis that signals a potential reversal from an uptrend to a downtrend. Here’s how it works:
The Setup:
The price of an asset is rising in an uptrend.
The pattern forms as the price creates three peaks (or highs) with two valleys (or lows) in between.
The Pattern:
Left Shoulder: The price rises, then dips slightly.
Head: The price rises again, this time higher than the first peak, and then dips.
Right Shoulder: The price rises once more, but the peak is lower than the head. This is often close to the height of the left shoulder.
The Neckline:
Imagine drawing a line connecting the two dips (valleys) beneath the peaks. This is called the neckline.
The neckline can be flat, sloping upward, or downward.
The Signal:
When the price drops below the neckline after forming the right shoulder, it’s considered a breakout or a confirmation of the pattern.
This breakout suggests that the uptrend has ended, and the price may now move downward.
Why It Matters:
Traders often use this pattern to predict that the price will fall after the head and shoulders top forms.
The distance between the head and the neckline can help estimate how far the price might drop.
In simple terms:
A head and shoulders top looks like a person’s head with two shoulders on either side. It’s a warning sign that the price might stop going up and start heading down.
S&P/TSX Composite Index Continues Record-Breaking MomentumCurrent Market Situation:
The S&P/TSX Composite Index closed slightly above 24,050 on Friday, marking a 0.7% weekly gain and continuing its record-breaking trend.
Driving Factors:
Weak GDP data for August pointed to economic stagnation, reinforcing expectations of a dovish stance from the Bank of Canada, which improved market sentiment.
Gains in energy and financial sectors helped buoy the index. Notable stocks like Imperial Oil and TD Bank rose over 0.6%.
Challenges:
Declines in major stocks, including CIBC, TC Energy, and First Quantum, each down over 1.3%, weighed on the broader market's performance.
Outlook:
Despite some sector-specific declines, the index maintained its upward trajectory, remaining poised for a positive close to the week.
#SPTSX #StockMarket #CanadaEconomy #EnergyStocks #FinancialSector #MarketSentiment
TSX Index SeasonalityThe TSX index doesn't react exactly the same every year, however it's interesting to note how closely 2023 followed the 42 year historical trend. Seasonality helps you to figure out the market general direction instead of having to fight it.
Comment below if you have ideas to improve on the strategy!
TSX high volume + High risk shortDaily high volume at the top of the resistance line
Not high volume on break of resistance line
Trend still bounce between support and resistance lines
However oil is super strong which could be bullish for TSX
Fed decision this coming Wednesday
High risk: Short to support line
or wait to evaluate next week
HXD or HXU
TSX, Low-Momentum Market, FLAG-FORMATION Sets Up A HUGE PLUNGE!Hello There!
Welcome to my new analysis about the TSX CANADIAN STOCK MARKET INDEX on the 2-day timeframe perspectives. When approaching this stock market index it is necessary to view the prevailing sector stocks market situations firstly, in the recent times a precarious devaluing in the Canadian Dollar CAD has taken place, this has shown up within the Canadian Dollar Currency Index CXY as well as the fact that the Canadian central bank is continuing with aggressive rate hikes to tackle a wildfire inflation. These factors are already setting the Canadian stock market and related business landscape into disposition and therefore give a indication of a likely drop in the price-action to come around within the index prices. If the Canadian central-bank should move on with further overarching rate hikes in the next times this dynamic will be accelerated and a drop in the currency index will follow along with a drop in the stocks index.
Now, considering the technicals marked in my chart the TSX is building this gigantic flag-formation, such a flag-formation is always a serious flag-formation that should not be underestimated especially when it has a low-volatility-cycle edge to it as it is the case here. Such low volatility is in a vast majority of 90% of cases a main indication that a high-volatility drop in the price-action is likely to follow up as the price-action shows no ability to continue with a high-volatility trend in which the price-action forms consecutive heights. Within this bear-flag the TSX is forming this coherent wave-count which is moving directly into the upper resistances from where a pullback is highly likely and once this pullback reached out the lower-boundary the TSX will continue with the wave C and a simultaneous drop to reach out to the marked target-zones.
Summarizing all the given indications here a broader bearish big picture can be seen for the TSX index and if there is no change in the high consumer price index CPI and a foreseeable reversal of aggressive rate hikes even when the inflation calms down this will penetrate also into the real TSX index price-action and the price is ready for a huge plunge. With sight on the TSX index it has to be said that this is a local consideration because when approaching the whole stock market there are indeed mixed signs with other indices showing other signs. Especially when this index turns it can lead to movements into the other direction with other sectors and indices. Considering the price-targets it will be crucial how the index is going to approach the final target-zones and if a reversal can set-up there or a continuation is likely to extend.
Thank you everybody for watching. It will be great when you support my idea and we move on forward together.
VP
TSX, Setting Up To For Possible A Alteration In Perspective!Hello Traders Investors And Community,
Welcome to this analysis where we are looking at TSX 4-hour timeframe perspective which is showing up some quite interesting signals at the moment. As the main market has recovered from the corona-breakdowns seen this year the meaningful question is now if these recoveries are fundamentally backed to follow-up into a healthy market environment or if the bear-market-pressure will increase again similar to those price-actions contributed this year, as the bear-market is still not confirmedly over and many major indices trading below all-time-high conditions as well as the stock market, in general, we should not keep the bearish scenario by side not mentioning the huge divergences between real economy and stocks as the rallies aren't necessarily backed while smart-money is staying out retail is rushing in which can reverse the environment also in the other direction.
Looking at my chart now you can watch there that the index is moving in this preliminary important ascending-channel marked in grey where it consolidates more or less to the upside forming some uptrends. Furthermore, the index has still a major gap at the upside within the 17000 levels marked in orange waiting to be filed the next time. This gap-fill will be highly possible as others have shown similar formations and such gap-fills are likely to be filled shown in past price-action evidently, but what is also a fact is that after such gap-fills often supply enters the market and the price firstly makes a smaller when not bigger pull-back to the downside when bulls aren't strong enough in this level, such a mechanism can also happen here as it is marked in my chart.
When the index shows bearish pressure right after the gap has been filed and tests the lower boundary of the ascending-channel it needs to bounce there and confirm it as support when considering further bullishness otherwise when this does not happen and the price moves below this boundary the possibility for bearish pressure to the downside increases heavily this will show up also with a confirmation below the 60-EMA in black and continued bearish movement, overall this will form a bearish environment till there is solid support found which can reverse the situation and back the index up when this happens we will see how the dynamic is playing out and if there can be a reversal to the upside, taking these factors into consideration we should not ignore the bearish perspective as also new corona-fears can hit the market, therefore, it is important to be read on it to not fall apart when it is showing up.
In this manner, thank you for watching the analysis, support for more market insight and all the best.
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the market.
TSX will continue its sidewaysAfter the recent low move ,TSX will continue move in the sideways .
The sideway move will continue for some time.
The next move will be decided based on the side moves .Looking at the Global moves after the side move market will go up.
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TSX RecessionThe S&P/TSX Composite Index is the benchmark Canadian index, representing roughly 70% of the total market capitalization on the Toronto Stock Exchange with about 250 companies included in it. The Toronto Stock Exchange is made up of over 1,500 companies. It replaces the earlier TSE 300 index.
TSX in accumulation range before 2023 breakout.TSX | USD
Expecting the TSX to show relative strength vs. other major indices due to the dovish BOC policies
and a declining inflationary environment.
Therefore, my bias is a short term correction into the FOMC meeting Dec 15th where the 19250 should hold as support into a reversal
targeting 20,500.
A very comfortable time to buy in - short termVery beautiful chart from Toronto Exchange Market these days. If you have TSX tickets it is now time to buy in and hold for the uptrend.
TSX broke out of the downtrend channel and I have no reason to believe it is a "fakeout". Good indicator support and good trend lines. I'm expecting a small amount of correction between 19400 and 19200 since the RSI index is still very high, but it would not be back in the downtrend channel.
Level 0.236 Long Term Trend-based Fibonacci is where I would be expecting a correction. As far as the scope of this analysis goes, I will be adding to my portfolio aggressively.
I will do analysis of major tickers affecting TSX in the ext month or so, so make sure to follow me to not miss my analysis on the Canadian tickers!
TSX, will bullish momentum continue?Hello Traders,
TSX is setting up for another bull run. Looking at the HTF we can see price is moving within a strong reversal structure which price impulsively reversed up breaking out of the upper boundary. On the LTF, price is currently in a correction after breakout indicating further growth.
Thanks
Trade Safe
TSX another low incoming BOC meeting sept 7th We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low.
Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course energy but I think that is mostly priced in by now and even though we had a nice rally here off the June low it was over due after all markets never go down in a straight line. I am looking at further weakness in the energy sector with WTI looking overdue for a move to 70's .
I am eyeing the monthly calls with a sept 16th expiry.
I am looking at shorting XIU for tsx 60 and XEG for the energy etf and also single names such has Telus / Bell / Canopy / Superior
