As global markets rallied in a manic spike this week, we note a remarkably similar pattern with the price behaviour of late 2008. Volume continues to be weak and typical of the “two guys trading” lack of institutional buyers which has been a hallmark of bear market rallies for more than a year now. This chart of the Canadian TSX from our market technician Cory Venable captures a similar pattern across world markets to date. Risk warning is high.
Cory’s Chart Corner
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