Friday, April 13, 2007

Canadian Stock Market Observations April 13, 2007

I note that the S&P/TSX Composite Index and the TSX Venture Index both made breakouts today. Here, I'm defining a breakout as the index rising above the last larger peak established for both indexes in late February, 2007. These breakouts are technical indications of market strength. This does not guarantee anything because the market continually makes up it's mind about things as events occur. These breakouts strongly suggest continued strength for the next while. Glad I put a little more into the TSX Comp index fund.

In comparison, the DJIA index in the US has not made a breakout. It may have completed it's little bear correction and just be lagging a little, or it may still find lower lows.

Chart Links
TSX Comp
TSX Venture

Raining cats and dogs today.

1 comment:

Anonymous said...

Can't decide if I should buy a book on this myself, or just read lots of websites. Can there be that much to it?

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