With a push from the gold stocks, the $TSX pushed above the previous highs of 14000!
You can see in the following chart the lifting has been shared across most sectors with a noticeable pause on the financials and industrials.
Interesting though, in the last week, the $SPX outperformed almost every Canadian sector again!
Stay tuned, the roller coaster continues. I thought it was interesting that both Arthur and I focused on Utilities in our ChartWatchers post today. That big orange histogram has been strong as shown in Chart 2, even though the Canadian Utilities underperformed the $SPX last week.
Good trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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