Always consider hidden risks
TSX Materials:  At Major Crossroads?
 February 17 ( TradingView, Stockcharts  )
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The Situation

The Canadian TSX Materiials Index ETF - XMA 
​( iShares S&P/TSX Capped Materials Index ETF ) started to outperform ​​
​tremendously since ​​January 25 2016​ ​​the Mighty TSX60 Index ETF - XIU
​( iShares ​S&P/TSX 60 Index ETF  ). ​​( See First Chart Below- Weekly Ratio ).

​​​​​​It was a strong support sign on a relative basis since we had a Triple
​Bottom ​on that Canadian ​ETF s Ratio ​​taking September 28 2015 week
​bottom, the November 23 2015 week bottom and finally the January 25
​week bottom​ as shown by ​the ​​first ​​chart ​below ( Amber Trendline ).

​​​​​​One interesting technical factor is that we are testing a Major Weekly Resistance Zone on that ETF s Ratio ​​
​(so on a relative basis) that started back since February 2014. ( See First chart below - Red Trendline -  Ellipse ).

But the most interesting factor is that ​we broke a Major Falling Wedge on the TSX Materiials Index ETF - XMA that started back since May 15 2015. ​( See Second chart below - Red Trend Line - Ellipse)

​​And as we are testing the Major Weekly Resistance Zone on that ETF s Ratio (so on a relative basis), the XMA ETF is getting near the 200 DMA ( Day Moving Average ). IF broken, it will be the last call for Bears.
 ​( See Second chart below - Green Line )


TSX Materials: At Major Crossroads?    $TSX  #Trading #Canada  #investing  #xma #xiu
Weekly RATIO
​XMA ETF ( iShares S&P/TSX Capped Materials Index ETF   ) 
XIU ETF ( iShares S&P/TSX 60 Index ETF )​
XMA ETF Dailly Candles
​( iShares S&P/TSX Capped Materials Index ETF )
Volume ( Bottom Blue Line )​