Canada made market highs in 2014. Recently it rallied up and tried to restart a new bull market cycle. Today, that cycle reversed and we marked a resumption of the primary bear market trend.
I showed this chart in my webinar yesterday. You can see that webinar by following this link. Commodities Countdown 20151105. This is still a concern for all the commodity related countries as commodities continue to go lower here.
Not great news for the $TSX as the recent rally appears to have stopped for the Canadian Marketplace. Maybe next week, it will pop back up. The $TSX would have to reach 13651 to reverse this chart in the short term and would have to take out 13801 in order to break the trend of lower highs and lower lows. The linkable version to this chart specifically is here. $TSX PnF 20151106.
Good trading,
Greg Schnell, CMT
