Asset Watch
Tuesday, June 13, 2023
However, as the DJIA races toward its 2022 and 2023 highs, the TSX has not shown the same enthusiasm. If you analyse the right side of the chart, you can see that the latter has languished recently. The TSX’s weakness is often an ominous indicator for the DJIA, so a continuation of the theme could spell trouble in the days and weeks ahead.
S&P 500 seasonality turns bearish in mid-June, and the index usually bottoms near the end of the month. But, with the June low often beneath the May low, a breach of 4,050 would not be out of the ordinary.
Are the TSX’s struggles a bad sign for the DJIA, or can the rally continue?