FINANCIAL ICEBERG
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 TECHNICALS
TSX Financials (XFN ETF): At Technical Crossroads?
 August 10  2016 ( TradingView, StockCharts.com  )
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The Situation

​The Canadian TSX Financials ETF - XFN
​​(iShares S&P/TSX Capped Financials Index ETF) started a Bullish Trend from
the post-Brexit panic on June 27 2016; it did at the same time tested a Major
Support Trendline  that started back on November 28 2014)​ ​
​(See first chart below - Thick Red Trendline - Ellipse) , all that with a lower trading
​Volume which is quite unusual for a Breakout.
​(See first chart below - Blue Area)

And Since June 8 2016, we are within a Downward Daily Channel and testing
the Resistance of that Channel ​as shown by ​the first chart below.

The XFN ETF ​​​​​​
started to under ​perform ​​​tremendously ​since ​​the April 4 2016​ ​​week the Mighty ​​TSX60 Index ​ETF - XIU ​( iShares ​S&P/TSX 60 Index ETF  ). ​​(See Second Chart Below- Daily Candles Ratio).

​On June 27 2016, it did break on a relative basis (XFN ETF over XIU ETF) a Daily Major Support Trendline that started back since the February 2 2015, indicating a continued under performance of Financials compare to the broad market index. (See First chart below - Grey Trendline -  Ellipse).

​We are now testing another Support Trendline that Bulls need to protect at all costs.
​(See Second chart below - Blue Trend Line - Ellipse)

​​The Canadian TSX Financials ETF - XFN is definively at Technical Crossroads.



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TSX Financials (XFN ETF): At Technical Crossroads?  $TSX  #Trading #Canada  #investing  #cew #xiu
Daily RATIO
​XFN ETF ( iSharesS&P/TSX Capped Financials Index ETF   ) 
over​
XIU ETF ( iShares S&P/TSX 60 Index ETF )​

Financialiceberg.com
Financialiceberg.com
XFN ETF Daily Candles
​( iSharesS&P/TSX Capped Financials Index ETF )
Volume ( Bottom Blue Line )​