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TSX Financials:  Relative Triple Top ?
 October 19 ( From Stockcharts, TradingView  )
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The Situation

The Canadian TSX Financials ETF - XFN
​( iShares S&P/TSX Capped Financials Index ETF ) started to outperform ​​
​tremendously since ​​February 3 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 30, 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 had 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 price correction into the ​​ Mighty TSX60 Index ETF - XIU as shown by the chart below.


​​












TSX Financials: Relative Triple Top ?    $TSX  #Trading #Canada  #investing  #cew #xiu
RATIO ( Top Panel )
​XFN ETF ( iSharesS&P/TSX Capped Financials Index 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