Lower highs, lower lows - $TSX

The $TSX continues it's rollover and is testing support at 12200.

The Aussie charts look a little stronger but they had exports fall significantly this month and they look to be starting an interest rate drop in the near future. Canada's GDP was 0.1%... The $TSX is telling us that global exports for commodities are down, and it is starting to show up in the export data. 

This 12200 is important support. 

There may be a better time to own commodities down the road but it is looking weak from my blog posts recently. You will also notice the volatility rising in copper. The daily moves are starting to get wider and wider. Indecision at the least.

Good trading,

Greg Schnell, CMT