One way to time a top in a particular stock or index is to use the 4ema when it goes over the upper keltner channel. Add in a bearish engulfing candlestick and a declining ADX, and the Toronto Stock Exchange is an index that clearly needs to take a rest and could add pressure on the main indexes as investors take profits.
As far as the US markets, today reversal looks to confirm that the markets want to move lower.
