TSX INDICES

Up, down, up, down. This past week it was down, as the TSX Composite lost 2.5 per cent. With the exception of [tag]healthcare[/tag], all [tag]sub-indices[/tag] were down, including gold. Gold being down was a surprise considering the [tag]metals[/tag] closed higher on the week.

Gold and materials remain the only places to be. [tag]Utilities[/tag] are continuing to roll over but we don’t as yet have a stand aside signal.

Many are still calling this a bottom. But we have little evidence that we have made a bottom. Still we did not see new lows, so the small rebound that started a couple of weeks ago is still in play despite the drop this week.