These are some extracts from a recent Getting Technical Market letter
“The Equity Markets: Now Range Bound”
“We are now cautions through year-end due to investor confusion over the U.S. fiscal issues. There is also a big contrarian concern due to a broad based belief among too many investors that a period of seasonal strength in the equity markets runs from November through March. Another major concern is the topping momentum phase of many of the Canadian and U.S. sectors – see the sector tables on page 2 and page 3
The TSX Composite could be range bound through Q1 2013.
See chart top left.
Risk Avoiders - LONG TERM new for Q4 of 2012 – we see the U.S. sectors sorted by monthly change at Oct 31, 2012. The expansion of the Stationary Topping sectors suggests a topping phase in the broader indices through Q1 2013.”
Most of these comments are from different pages and so are out of context – but I am sure you get the message