I though we were going to see sell off into the end of the week as per my risk off post, but it looks like the equity markets are going to push higher and the $TSXV is going to challenge that 1,673 high – caveat: beware of a double top here and that November high. That being said, I remain relatively hesitant to take new speculative long positions but will re-enter into names I know, those that I believe offer a good value proposition. The overall volume on the $TSXV is in decline but we did start this rally on less. Again, ultimately I think 2012 will be a great year, but I would like to see a correction from the post Xmas rally we have been seeing.
Here is where the $TSXV stands on the daily:
Here is the weekly view…. We need more volume flowing into this market to keep marching forward but this looks very promising for the rest of the year.