I never stops to amaze me how the Canadian market operates just like a bunch of Pavlov dogs. Completely and totally mindless they start the day dumping everything and then end the day buying everything. Anyway so much for that. here is the chart.
Remember that we had a first leg down from 12070 to say, roughly 11000, good for slightly more than the usual 1000 points. (wave 1), then we retraced slightly more than 62% to 11750 or so, (wave 2); Then we drop 450 points in what may well be wave 1 of 3; next is wave 3 of 3 and that is where it starts to get serious. We will see.