S&P/TSX Small Caps Weekly Chart - weekend review.
Some interesting points in this chart and also in a few other indicators that I use. The index is still right below resistance, but that candlestick (Nov 14 end of the week) shows that buyers stepped in to close the week just below the resistance.
CMF looks poised to cross into positive territory.
Both MACD and Stochastic show oversold on my other charts. On this one, the -DI line is weakening, selling is weakening.
We could see a Christmas rally starting. However, the S&P 500 weekly chart looks like the short-term rally in US stocks is weakening. That will make me a little cautious. I have a number of open Canadian Small Cap positions that I will be watching. During this next week, I will either close some of those, or open more depending on where the Small Cap index stands relative to that resistance line.
Some interesting points in this chart and also in a few other indicators that I use. The index is still right below resistance, but that candlestick (Nov 14 end of the week) shows that buyers stepped in to close the week just below the resistance.
CMF looks poised to cross into positive territory.
Both MACD and Stochastic show oversold on my other charts. On this one, the -DI line is weakening, selling is weakening.
We could see a Christmas rally starting. However, the S&P 500 weekly chart looks like the short-term rally in US stocks is weakening. That will make me a little cautious. I have a number of open Canadian Small Cap positions that I will be watching. During this next week, I will either close some of those, or open more depending on where the Small Cap index stands relative to that resistance line.
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