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Chart Watch: Markets are resting before the next move higher

Globe editors have posted this research report with permission of Phases & Cycles Inc. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:

Our post-Labour Day Market Comment ended by forecasting that "a period of heightened volatility and increased risk of a correction is fast approaching.

That period has materialized. A modest market sell-off with continued sectoral rotation is likely. The bull may take its time to work through this period of rest and rehabilitation, but the outcome should be a stronger market later this year.

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