FINANCIAL ICEBERG
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Canadian Technical Charts Potpourri
November 07 2016 ( From TradingView, CNN Money )
November 07 2016 ( From TradingView, CNN Money )
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Last week, Canadian Stocks (XIU ETF) outperformed again the Mighty
SP500 Index (SPY ETF) as we get closer to the US election but Financials
reversal started to weight on the Canadian Indices.
Some Technical Charts and Short Comments on Canadian financial products:
1) XIU ETF (iShares S&P/TSX 60 Index ETF) is into a Weekly False Breakout
phase as we failed to stay above the Weekly Rising Wedge Trendline.
(See first chart below, Top Blue trendline - Ellipse)
2) XIU ETF (iShares S&P/TSX 60 Index ETF) on a Weekly Relative Basis
compare to the Mighty SP500 Index (SPY ETF), still outperform slightly since
bottoming out in December 2015! (See second chart below - Blue trendline)
3) XFN ETF (iShares S&P/TSX Capped Financials Index ETF) False Breakout
as we failed to stay above the Support from a Weekly Rising Wedge that started
back since February 2016. (See third chart below - Left - Blue trendlines)
4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF) is still above the
Support of a Rising Wedge Resistance Trendline. Bulls need to protect that
Trendline at all costs from now on. (See fourth chart below - Right - Bottom Blue Trendline - Ellipse)
5) Canadian Dollar/US$ (USDCAD) broke the Resistance of a Weekly Rising Wedge. Bulls need to stay above it.
(See fifth chart below - Blue Trendlines)
6) XBB ETF (iShares Canadian Universe Bond Index ETF) painfully rebounding from a Weekly Support Trendline that started back since November 2015. (See sixth chart below - Blue Trendline - Ellipse)
7) Canadian VIX Index (SPTSX60 Volatility) finally broke a Weekly Falling Wedge Resistance Trendline and reached level not seen since the Brexit fear . (See seventh chart below).
8) Natural Gas Futures (NG2-NYMEX) false breakout after testing the Weekly Resistance from February 2014! (See eight chart below - Blue trendline - Ellipse) and now testing the Support Trendline (Grey)
9) Light Crude Oil Futures (CL2-NYMEX) broke a Major Support Trendline within a Major Rising Wedge Technical Pattern. (See ninth chart below - Grey Trendline - Ellipse)
The False Breakout in the Canadian Financials is the Weekly surprise; sector weight is 39.29% of the XIU ETF so it becomes a must follow...
SP500 Index (SPY ETF) as we get closer to the US election but Financials
reversal started to weight on the Canadian Indices.
Some Technical Charts and Short Comments on Canadian financial products:
1) XIU ETF (iShares S&P/TSX 60 Index ETF) is into a Weekly False Breakout
phase as we failed to stay above the Weekly Rising Wedge Trendline.
(See first chart below, Top Blue trendline - Ellipse)
2) XIU ETF (iShares S&P/TSX 60 Index ETF) on a Weekly Relative Basis
compare to the Mighty SP500 Index (SPY ETF), still outperform slightly since
bottoming out in December 2015! (See second chart below - Blue trendline)
3) XFN ETF (iShares S&P/TSX Capped Financials Index ETF) False Breakout
as we failed to stay above the Support from a Weekly Rising Wedge that started
back since February 2016. (See third chart below - Left - Blue trendlines)
4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF) is still above the
Support of a Rising Wedge Resistance Trendline. Bulls need to protect that
Trendline at all costs from now on. (See fourth chart below - Right - Bottom Blue Trendline - Ellipse)
5) Canadian Dollar/US$ (USDCAD) broke the Resistance of a Weekly Rising Wedge. Bulls need to stay above it.
(See fifth chart below - Blue Trendlines)
6) XBB ETF (iShares Canadian Universe Bond Index ETF) painfully rebounding from a Weekly Support Trendline that started back since November 2015. (See sixth chart below - Blue Trendline - Ellipse)
7) Canadian VIX Index (SPTSX60 Volatility) finally broke a Weekly Falling Wedge Resistance Trendline and reached level not seen since the Brexit fear . (See seventh chart below).
8) Natural Gas Futures (NG2-NYMEX) false breakout after testing the Weekly Resistance from February 2014! (See eight chart below - Blue trendline - Ellipse) and now testing the Support Trendline (Grey)
9) Light Crude Oil Futures (CL2-NYMEX) broke a Major Support Trendline within a Major Rising Wedge Technical Pattern. (See ninth chart below - Grey Trendline - Ellipse)
The False Breakout in the Canadian Financials is the Weekly surprise; sector weight is 39.29% of the XIU ETF so it becomes a must follow...
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"To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy's resistance without fighting."
-Sun Tzu, the Art of War
-Sun Tzu, the Art of War
Canadian Technical Charts Potpourri $SPY #sp500 #usdollar #bonds #gold #stocks #investing #trading #spy #dxy #bonds #gold #vix
Weekly Chart ( Candles )
XBB ETF ( iShares Canadian Universe Bond Index ETF )
Volume ( Bottom Blue Area )
XBB ETF ( iShares Canadian Universe Bond Index ETF )
Volume ( Bottom Blue Area )
Financialiceberg.Com
Financialiceberg.Com
Weekly Chart
SPTSX60 Index ( XIU ETF - Top Panel - Candles )
XIU ETF Volume ( Bottom Panel - Blue Area )
SPTSX60 Index ( XIU ETF - Top Panel - Candles )
XIU ETF Volume ( Bottom Panel - Blue Area )
Weekly Chart ( Candles )
Natural Gas Futures ( NG2 )
Volume ( Bottom Blue Area )
Natural Gas Futures ( NG2 )
Volume ( Bottom Blue Area )
Financialiceberg.Com
Financialiceberg.Com
Financialiceberg.Com
Weekly Chart ( Candles )
Canadian Dollar/USD pair ( USDCAD )
Canadian Dollar/USD pair ( USDCAD )
Financialiceberg.Com
Weekly Chart
RATIO
SPTSX60 Index over SP500 Index ( XIU ETF over SPY ETF - Candles )
RATIO
SPTSX60 Index over SP500 Index ( XIU ETF over SPY ETF - Candles )
Financialiceberg.Com
Weekly Chart
SPTSX Financials ( XFN ETF - Top Panel - Candles )
XFN ETF Volume ( Bottom Panel - Blue Area )
SPTSX Financials ( XFN ETF - Top Panel - Candles )
XFN ETF Volume ( Bottom Panel - Blue Area )
Weekly Chart
SPTSX Energy ( XEG ETF - Top Panel - Candles )
XEG ETF Volume ( Bottom Panel - Blue Area )
SPTSX Energy ( XEG ETF - Top Panel - Candles )
XEG ETF Volume ( Bottom Panel - Blue Area )
Weekly Chart ( Candles )
TMX SPTSX60 Index Volatility ( VIXC )
TMX SPTSX60 Index Volatility ( VIXC )
Weekly Chart ( Candles )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
