The big trend is down since early 2011 and a big head-and-shoulders could be forming, but, for now, the TSX Composite is showing life with a surge off support that extends all the way back to early 2010. Also notice that MACD formed a higher low and is poised to break above its signal line.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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