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September 22, 2011

CDNX Chart Update

As of 11:30 am Eastern, the CDNX is off 92 points at 1612.  John’s 2.5-year chart below shows two pivotal support zones.  Note the current oversold RSI condition which offers hope the first support band may hold.

1 Comment

  1. Thanks Jon and John for providing this chart this morning. Looks like we’re now heading towards the second support band? Any chance of your thoughts on market conditions before the open tomorrow? VGD seems to have held up. Sheldon Inwentash did buy earlier in the year around .40 – .42 and maybe some of his trades are computer generated and triggered based on various factors? Anyway, doesn’t appear to be a big sell off on VGD, AGE or CUI today. I wonder what tomorrow will bring though. If we are now entering a bear market and a repeat of 2008 are these stocks likely to hold at current values? Hope that’s not too many questions.

    Comment by Andrew — September 22, 2011 @ 12:20 pm

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