This is an important chart for Canadian and Commodity Investors

One chart for tonight.

THe $TSX is firmly against the resistance of the 200 DMA. A fail here would be significant. Caution is advised.

Remember, the Canadian Dollar, the $TSX, the $SPTEN are heavily influenced by $WTIC,$copper and $HSI.

The $CDW looks weak to me here, the $TSX looks weak here and the energy sector looks weak here.

I don't like copper being down 4 days in a row. $WTIC has some influence from the middle east and $BRENT. When the cold spell in Europe recedes, $BRENT may well recede too. Sometimes $GOLD behaves as a commodity. Especially with a rising $USD. IF that $USD chart is turning up, think about protection..

That red arrow on the right is painfully obvious for technicians.

Good Trading,

 

 

Greg Schnell, CMT