Markets

TECHNICAL ANALYSIS: TSX Moves Lower; Most Sectors Down; Info Tech and Metals and Mining Drive Losses

Canada's TSX Composite has trimmed recent gains, trading more than 85 points lower on the day, but only after having rallied to a six-year high on Friday. Information technology has fallen 1.8%, While Metal and Mining is down 2.9%.

Price action on the TSX has created an inside day, where the high is lower or equal to the prior day's high, and the low is equal to or lower that the prior day's low. This pattern reflects indecision, and generally forms consolidation in the days to come.

The Info Tech sectors experience an outside day on Monday. Info Tech S&P / TSX capped index has been a leader as the TSX has climbed, and an outside day usually reflects a reversal in sentiment.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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