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Daily Market Commentary

TSE 60 index closes below crucial technical level
Market Commentary For Monday, June 19, 2017
Last week, the TSE 60 index did something that it hasn’t done all calendar year, close below $22.50. I have written about how critical this level is for weeks as the $22.50 level had already established some key support back in May and March of this year. Does the breach and close below this critical support level mean the market is due for some type of correction? The bottom line is that I don’t know, and I suspect even though many proclaim they do know the direction and velocity of the market, it just is too difficult to say with any certainty. What I do know is that after studying price charts now for over 20 years, that historically speaking, when prices break down like this, there is a high probability that more weakness is ahead. Good luck.
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