FINANCIAL ICEBERG
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Canadian Technical Charts Potpourri
July 8 2018 (From TradingView)
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Canadian Stocks (XIU ETF) trading better than US stocks mainly on commo
and oil stocks. Canadian Markets more volatile than US peers as energy and
commodities stocks less volatile then US tech stocks.
Some Technical Charts and Short Comments on Canadian financial products:
1) XIU ETF (iShares S&P/TSX 60 Index ETF) Back above the Major Weekly
Rising Wedge Resistance Trendline 4 weeks ago.
(See first chart below - yellow trendline). 2) XFN ETF (iShares S&P/TSX Capped Financials Index ETF) Broke 15 weeks ago the Major Weekly Support Trendline (orange). Weekly
Shooting Star 7 weeks ago. Broke the Weekly Uptrend Channel 6 weeks ago.(See second chart below)
3) XBM ETF (iShares S&P/TSX Global Base Metals Index ETF)
Broke a Major Weekly Resistance 28 weeks ago from a Weekly Wedge that
started from July 2014. Bulls need to protect that at all costs.
(See third chart below - Red Trendlines)
4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF)
Broke 9 weeks ago the Weekly Falling Wedge Resistance that started in December 2016. Weekly Bullish Engulfing Pattern 3 weeks ago. (See 4rth chart below - Blue) 5) Canadian Dollar/ US$ (USDCAD) Broke violently a Weekly Falling Wedge Resistance Technical Pattern 4 weeks ago. (See fifth chart below - Yellow Trendlines) .6) XBB ETF (iShares Canadian Universe Bond Index ETF) Still Into a Weekly Falling Wedge (red) and testing the Resistance. (See sixth chart below) 7) Canadian VIX Index (SPTSX60 Volatility) compare to the US SP100 Index VXO is above the Support zone. (See seventh chart below - Grey Trendline). Canadian stocks are now as Volatile than US stocks.
8) Natural Gas Futures (NG2-NYMEX) Strong Price Compression within a Weekly Falling Wedge and tested many weeks the resistance and was rejected. (See eight chart below -Yellow trendline). 9) Light Crude Oil Futures (CL2-NYMEX) Broke 4 weeks ago a Weekly Uptrend Channel Support and back into it. (See ninth chart below - Yellow Trendlines).
The XIU ETF still into a high uncertainty as the Trade War is weighting tremendously on the Canadian FInancial Markets. Canadian stocks as volatile than US stocks lately on energy and commo stocks.
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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
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 )
Financialiceberg.Com
Financialiceberg.Com
Weekly Chart
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 )
Financialiceberg.Com
Financialiceberg.Com
Financialiceberg.Com
Weekly Chart ( Candles )
Canadian Dollar/USD pair ( USDCAD )
Financialiceberg.Com
Weekly Chart
SPTSX Financials Index ( XFN ETF - Top Panel - Candles )
Financialiceberg.Com
Weekly Chart
SPTSX Base Metal ( XBM ETF - Top Panel - Candles )
XBM ETF Volume ( Bottom Panel - Blue Area )
Weekly Chart
SPTSX Energy ( XEG ETF - Top Panel - Candles )
XEG ETF Volume ( Bottom Panel - Blue Area )
RATIO - Weekly Chart ( Candles )
TMX SPTSX60 Index Volatility ( VIXC ) vs
CBOE SP100 Index Volatility ( VXO )
Weekly Chart ( Candles )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
