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TSX correction, Research in Motion, crude oil Vialoux
Posted on May 15, 2008
Leon Tuey, one of Canada s most respected technical analysts is calling for a correction by the TSX Composite starting in June. He also is calling the correction an important buying opportunity. Leon s call for a short term correction is understandable. Since January 22nd when the TSX Composite Index bottomed at 11,933, a gain of 23.4% has been recorded, an exceptional return for a four month period. Short term momentum indicators (MACD, RSI and Stochastics) are overbought and are due for a correction lasting into summer. Indeed, the last time that MACD was this overbought was in October 2...
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