3 months ago, my first post of Canadian TSX Composite Index shown the price is around 14175, and 3 months after, still not much progress
And the index closed below 8 month EMA.
If you take a look at 2007 top, 2011 top and compare to the current situation which are three are circled, I can see pretty similarity here.
When 8ema and 20ema both starting to curve downwards, this index had either a crash or correction.
Now the 8ema is starting to curve downward, leaving 20ema still abit curving up. If Jan 2015 is another consolidation month, 20ema would be more or less flatten which could signal a serious warning of further downside. 1st downside support would be ~13000 which is where the triangle lines meet.
And the index closed below 8 month EMA.
If you take a look at 2007 top, 2011 top and compare to the current situation which are three are circled, I can see pretty similarity here.
When 8ema and 20ema both starting to curve downwards, this index had either a crash or correction.
Now the 8ema is starting to curve downward, leaving 20ema still abit curving up. If Jan 2015 is another consolidation month, 20ema would be more or less flatten which could signal a serious warning of further downside. 1st downside support would be ~13000 which is where the triangle lines meet.
