Young and Frederick - ScotiaMcLeod Whitby

 It looks like rain.

In our last Technically Speaking we called for the markets to correct. Since that time, the TSX has actually risen by 600 points.  While the result was not what we were looking for, or expected, the conditions that led to that call persist.  On a technical analysis basis the market was extremely overbought.  Momentum, relative strength, and sentiment indicators all pointed to a correction.  To a certain degree they still do.   click here to read more