Like in 1999... There are all sorts of divergences on the daily
charts, yet short holders keep covering higher and higher. It is in
its third push up, it's very close to running out of steam.
This chart does not bode well for the index for the near future.
After crude oil peaked in 2008, or tech stocks in 2000, a deep
decline ensued.
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Canadian stock index $TSX is going vertically up
Posted by junkie on 3rd of May 2014 at 04:35 am
$TSX stock index: http://stockcharts.com/h-sc/ui?s=$TSX&p=D&yr=2&mn=0&dy=0&id=p63694167218&a=182867870&listNum=6
Like in 1999... There are all sorts of divergences on the daily charts, yet short holders keep covering higher and higher. It is in its third push up, it's very close to running out of steam.
This chart does not bode well for the index for the near future. After crude oil peaked in 2008, or tech stocks in 2000, a deep decline ensued.