Friday, October 8, 2010

The TSX has broken out of it's trading range

If you like technical investing, you must have noticed that over the last week or so, the TSX has broken out of its trading range and that the Dow is above 11,000.  Considering the black mood prevailing just a few months ago - a mood that even affected me - this is just a miracle.

This chart copied from the Globe and Mail shows you how dramatic the break-out was. This is likely the signal that a double dip recession scenario is quickly becoming less likely.  September and probably now also October of 2010 are likely to become the best performing months when compared to numerous past years.

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