Category Archives: Foreign

Canada’s TSX Index and Canadian Dollar Roller-Coaster Ride

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I last wrote about Canada’s TSX Index in my post of October 10th.

The 3-Year Daily chart below shows that, since then, price bounced shortly thereafter to re-test the bearish moving average Death-Cross formation, then plunged to re-test the October low around the 13,650 level. A break and hold below this level could send this index down to its next major support around 13,000, particularly if volumes continue to build, as they have, of late.

As of today (Tuesday), the TSX is bouncing on a diverging (positive) RSI signal, but a buy signal is not being confirmed, yet, by the MACD and Stochastics indicators. As well, until the RSI rises and holds above the 50.00 level, the buying may be short-lived. (more…)


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(Important piece on Greece by the newest member of the StealthFlation team, which I thought I should share with SOH should Tim be so inclined)

Submitted by Yanis Varoufakis  –  The Yanis Varoufakis Blog

Ten questions on Greece & SYRIZA, with ten answers – Q&A with Jorge N. Rodrigues

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  1. Why had the Eurogroup decided last week to grant a two-month bailout extension until February? This was a political signal for Greeks?

Officially, it was not political but a ‘realistic’ solution since it offers enough time for the “evaluation of Greece’s progress” to be completed but does not extend the ‘agony’ longer than it must. In reality, however, it was a clear message that Berlin is not interested in dealing with Mr Samaras until and unless either he elects a President in this Parliament (in which case a general election is averted) or he wins a general election (following his failure to elect a President in this Parliament). The two months expire precisely when a new government, led by Mr Samaras, or Mr Tsipras is in power. Clearly, Mrs Merkel thinks that Greece’s next agreement requires a freshly elected, or a revived, government. Deep down, the German government knows that it must now lock horns with Mr Tsipras’ SYRIZA. It is quote simple really. (more…)