Any corrective phase that will come in the near term could be a shallow one. |
As the week progresses, we might see a bit of short-term strength with window-dressing before the end of the quarter. |
Crude prices remain volatile and that is where the Canadian market will carry on from yesterday's gains. |
Energy, as usual, it's carrying on forward. |
Every time we have about three days of downtrend, you get one or two days of positive moves in the short trend. |
Gold is not quite ready yet to move in the upward bias. |
Since gold prices are stuck in that range, gold-mining stocks are not going to move very much either. |
The metal cycle is still intact, with commodity prices holding very well. |
The sector is meandering sideways. |
They have been devastated for quite a while, so if you see bargain hunters stepping in here, it's a little bit positive. The sentiment on the street is still negative (toward lumber issues), but the aggressive accounts will probably nibble here a little bit. |
We have a good short-term bounce here, but until we retest the 12,080 mark, we may see a bit of profit-taking coming in again because of the nervousness on the market. |
We will have carry through from yesterday. But after three days of strong gains, I think it will probably slow down a little bit. |
We've had a lackluster market in the past several days, so we might see the market at least get a grip on itself and try to muster a little bit of a short term upswing here. |