FINANCIAL ICEBERG
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TECHNICALS
Canadian Technical Charts Potpourri
September 10 2017 ( From TradingView)
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Canadian Stocks (XIU ETF) consolidation continue on higher rates fear.
Stronger Canadian Economic data lately relative to the US will continue
push the BOC to act on rates going forward.
Some Technical Charts and Short Comments on Canadian financial products:
1) XIU ETF (iShares S&P/TSX 60 Index ETF) Broke 13 weeks ago the Previous
Major Weekly Double Top Breakout Trendline at 22.78 that was critical 4 Bulls.
Test and Rejected 5 weeks ago the Weekly Downtrend Channel Resistance.
(See first chart below-Channel). 2) XFN ETF (iShares S&P/TSX Capped Financials Index ETF) Broke a Weekly Rising Wedge 7 weeks ago (Blue). Tested and Rejected 2 weeks ago the
Weekly Resistance Trendline (red) (See second chart below)
3) XBM ETF (iShares S&P/TSX Global Base Metals Index ETF) Broke Violently
a Weekly Uptrend Channel. (See third chart below - Channel)
Bulls need to stay above previous Weekly Breakout Trendline (yellow)
4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF) still into a Weekly
Downtrend Channel and tested the Resistance. (See 4rth chart below - Channel)
Bulls lost control as we Broke the Weekly Support Trendline 15 weeks ago (yellow).
5) Canadian Dollar/ US$ (USDCAD) Broke violently a Weekly Megaphone Support Technical Pattern 11 weeks ago. (See fifth chart below - Blue Trendlines) Broke a Weekly Uptrend Channel Support 2 weeks ago. Strongest since June 2015.6) XBB ETF (iShares Canadian Universe Bond Index ETF) Broke 13 weeks ago a steep Weekly Rising Wedge Support Trendline. (See sixth chart below - Yellow Trendlines) Broke last week the Major Weekly Support Trendline that started back in October 2008! (Grey)
7) Canadian VIX Index (SPTSX60 Volatility) compare to the US SP100 Index VXO is back below the resistance zone. (See seventh chart below - Grey Trendline). Canadian stocks are getting less Volatile than US stocks.
8) Natural Gas Futures (NG2-NYMEX) still below the Previous Weekly Breakdown Trendline from March 2016, critical for Bulls to break. (See eight chart below - Blue trendline). Still Into a tiny Weekly Uptrend Channel.
9) Light Crude Oil Futures (CL2-NYMEX) Still into a Weekly Uptrend Channel that started since June 2017. Tested the Support so critical for Bulls. (See ninth chart below - Channel).The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 14 weeks ago (mainly the interest sensitive sectors) with two rate hikes since and NAFTA renegociation started.
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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 )
