The CDNX ran up to 1950 in early trading this morning before plunging 34 points from there to close at 1916, a 19-point loss for the day and the 10th “down” day out of the last 11. A “hinge” has appeared in the Slow Stochastics, as John outlines below, which could indicate a reversal is near. The rising 300-day moving average (SMA) provides strong support at 1889, though this correction may not end until there’s a drop slightly below the 300-day – just like what occurred at the market bottom in July of last year.
Mike Swanson here regarding the bigger markets which might also give an idea of the jrs…..we must be getting close now. wallstreetwindow.com/node/2528
Comment by STEVEN — June 13, 2011 @ 7:42 pm