Always consider hidden risks
TSX Financials:  Critical Support zone ?
 February 15 ( TradingView  )
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The Situation

The Canadian TSX Financials ETF - XFN
​( iShares S&P/TSX Capped Financials Index ETF ) started to underperform ​​
​tremendously since ​​January 18 2016​ ​​the Mighty TSX60 Index ETF - XIU
​( iShares ​S&P/TSX 60 Index ETF  ). ​​( See First Chart Below- Weekly Ratio ).

​​​​​​It was a strong rejection on a relative basis since we had a Triple Top
​on that Canadian ​ETF s Ratio ​​taking November 9 2015 week peak, the
December 7 2015 week peak and finally the January 11 week peak​ as
​shown by ​the ​​first ​​chart ​below.

​​​​​​One interesting technical factor is that we are testing a Major Support Zone on that ETF s Ratio ​​(so on a relative basis) as shown by ​the ​​chart ​below. ( See First chart below - Red Trendline -  Ellipse ).

But the most interesting factor is that ​we are now back near the Major Support Trendline from the previous break out that started back on April 4 2011 week. ​This is the last call for Bulls.
( See Second chart below - Red Trend Line - Ellipse)

​​And as we tested the support trendline on a relative basis and near the Major Support Trendline price wise from the previous break out, trading Volume picked up tremendously as we reached the highest weekly volume on the XFN ETFs since August 2011!  ​( See Second chart below - Bottom Blue Area Chart - Ellipses)


 TSX Financials: Resistance zone ?   $TSX  #Trading #Canada  #investing  #cew #xiu
Weekly RATIO
​XFN ETF ( iSharesS&P/TSX Capped Financials Index ETF   ) 
XIU ETF ( iShares S&P/TSX 60 Index ETF )​
XFN ETF Weekly Candles
​( iSharesS&P/TSX Capped Financials Index ETF )
Volume ( Bottom Blue Line )​