TSX

We have updated our Seasonality Chart (presented at the end of this report) and made significant changes, including updating the beginning-and-end dates for the periods of seasonality strength, and adding a further ten industry sectors. We remain cautious towards the market and recommend defensive positions. Given the recent strong upward movements in stock prices, we would welcome over the summer months a lengthy consolidation period or a meaningful, but healthy, pull-back. [more]

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