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 TECHNICALS
TSX Small Cap Index:  Turnaround ?
 October 9 ( From Stockcharts  )
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The Situation

The TSX Small Capitalization started to outperform ​​since ​September 30 ​
​compare to ​the Mighty TSX60 Index and the ​20 DMA (Day Moving Average) ​​
​on that Ratio turned ​upward on October 6. ​​But one ​crucial Technical
​factor ​is that we failed yet to get above the 200 DMA ​on that ratio
​(Small Cap ​over the ​TSX). We are on a relative basis the ​cheapest we
​ever been ​since ​March 2015.​  ( See second chart below - Amber line - Ellipses )...

​​On October 8, we had the 20 DMA ​​(Day Moving ​Average - ​yellow line) on that
​Ratio crossed above the 50 DMA (Day Moving ​Average - ​red line) , another
​good omen... ​( See first chart below )

​The TSX Small Cap Index is within an uptrend channel that started back on September 29 2015 with 494.75 as support and ​536.84 as resistance. We need to stay above the 50 DMA (Day Moving Average) now at 513.71 to keep a positive technical set up. ( See first chart below )

​​​​But the most interesting factor is that we broke on October 7 the Resistance of a Downward Channel that started ​on June 3 2015, a good technical sign indeed ​​as shown by ​the ​​first ​​chart ​below. For Technical strenght, we need to stay above that old Channel Resistance Trendline ( now becomes Support). 
( See first chart below -  Ellipse).








TSX Small Cap Index: Turnaround ?  $TSX  #Trading #Canada  #investing  #tsx60
RATIO
​TSX Small Capitalization Index
over​
​TSX60 Index  Index
20 DMA ( Yellow Line )
​​​50 DMA ( Red Line )
200 DMA (  Green Line )
Financialiceberg.com
Financialiceberg.com
TSX Small Capitalization Index
Daily Candles​
​20 DMA ( Yellow Line )
​50 DMA ( Red Line )
200 DMA ( Green Line )