TSX Venture (TSX-V) still seeking the lower gap

TSX Venture index (TSX-V): from bearish to bearisher as it eyes the lower gap

On November 29 we had an NFTRH+ update (now public) that showed the TSX-V (JX) cracking support on the weekly chart and filling the upper gap:

The weekly chart shows that the slip below long-term support (defined by the top of the 2020 crash pattern) did fill a gap, which is a good thing. Bad thing? There is another gap at 510.

Okay, all you speculative ‘resources’ aficionados, da ‘V’ is still on the 510 Express. Santa* did not come this year for speculative inflation traders and he’s really not even down the chimney for broad stocks either.

As noted in the Trade Log yesterday when I shorted something, I am loath to believe too much in market signals flashing during the end of year seasonal, but the charts are the charts for now. As a side note, that includes long-term Treasury yields, which are rising again and keeping the pressure on other markets. Interesting stuff, but during a slack holiday seasonal period.

tsx Venture index, TSX-V

* Assuming we’re labeling the classic ‘Santa Rally’ as the week between Christmas and New Years, when tax loss selling should be about wrapped up.

For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at NFTRH.com by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.

Testimonials