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 TECHNICALS
TSX Banks / Lifeco:  Relative Triple Top ?
 October 5 ( From Stockcharts, TradingView  )
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The Situation

The Canadian TSX Banks / Lifeco ETF - CEW
​( iShares Equal Weight ​Banc & Lifeco ETF ) started to outperform ​​
​tremendously since ​​January 30 2015​ ​​the Mighty TSX60 Index ETF - XIU
​( iShares ​S&P/TSX 60 Index ETF  ) and the 50 DMA (Day Moving ​Average)
​​​turned ​upward only on March 31. ​​( See First Chart Below ).

​​​​​​The 50 DMA ​​(Day Moving ​Average - ​red line ) on that ETF s RATIO
crossed above the 200 DMA ( Green Line ) on July 7, bringing what is
​c​alled a golden cross technical pattern.​, a good technical omen... ​
​( See first chart below )

​​​​​​But the most interesting technical factor is that we are near a Triple Top on that ETF s Ratio ​​as shown by ​the ​​first ​​chart ​below. ( See first chart below - Ellipses ).

The two previous peaks on that ratio ( End of November 2014 and 2014 ) bring a nasty correction into the ​​ Mighty TSX60 Index ETF - XIU.


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TSX Banks / Lifeco: Relative Triple Top ?   $TSX  #Trading #Canada  #investing  #cew #xiu
RATIO ( Top Panel )
​CEW ETF ( iShares Equal Weight Banc & Lifeco ETF ) 
over​
XIU ETF ( iShares S&P/TSX 60 Index ETF )​
7 DMA ( Blue Line )
​​​50 DMA ( Red Line )
200 DMA (  Green Line )

​​XIU ETF ( Bottom Panel ) 
​( iShares S&P/TSX 60 Index ETF )​
Financialiceberg.com
Financialiceberg.com
TSX Small Capitalization Index
Daily Candles​
​20 DMA ( Yellow Line )
​50 DMA ( Red Line )
200 DMA ( Green Line )