FINANCIAL ICEBERG
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Canadian Technical Charts Potpourri
November 19 2017 (From TradingView)
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Canadian Stocks (XIU ETF) trading higher mainly on Oil stocks..
Softer Canadian Economic data lately relative to the US will push the
Bank of Canada to act cautiously going forward.
Some Technical Charts and Short Comments on Canadian financial products:
1) XIU ETF (iShares S&P/TSX 60 Index ETF) Broke 23 weeks ago the Previous
Major Weekly Double Top Breakout Trendline at 22.78 and back above it
8 weeks ago. Broke the Weekly Downtrend Channel Resistance 9 weeks ago.
(See first chart below-Channel). Broke a weekly Uptrend Channel 2 weeks ago.2) XFN ETF (iShares S&P/TSX Capped Financials Index ETF)
Broke 9 weeks ago the Weekly Resistance Trendline (red). Tested and
Rejected Violently Previous Weekly Breakdown Trendline 2 weeks ago.
(See second chart below-blue)
3) XBM ETF (iShares S&P/TSX Global Base Metals Index ETF) Still within a
Major Weekly Wedge (red) from July 2014. (See third chart below - Red Trendlines)
4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF) broke 10 weeks ago
Weekly Downtrend Channel. (See 4rth chart below - Channel) Broke above the
previous Weekly Breakdown Trendline (yellow) that Bulls failedd to protect.
Into a Weekly Uptrend Channel.
5) Canadian Dollar/ US$ (USDCAD) Broke violently a Weekly Megaphone Support Technical Pattern 21 weeks ago. (See fifth chart below - Blue Trendlines) Still Into a Weekly Uptrend Channel. At Support.6) XBB ETF (iShares Canadian Universe Bond Index ETF) Broke 23 weeks ago a steep Weekly Rising Wedge Support Trendline. (See sixth chart below - Yellow Trendlines) Back 2 weeks ago above 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 above the resistance zone. (See seventh chart below - Grey Trendline). Canadian stocks are still more Volatile than US stocks.
8) Natural Gas Futures (NG2-NYMEX) Bulls broke 2 weeks ago the Weekly Resistance Trendline.
(See eight chart below -Yellow trendline). 9) Light Crude Oil Futures (CL2-NYMEX) Broke 2 weeks ago a Weekly Uptrend Channel that started since June 2017. (See ninth chart below - Channel).
The XIU ETF finally started to out perform the SP500 Index (SPY ETF) as the Bank of Canada softer tone 8 weeks ago bring the XIU back above the critical level of 22.78. Oil stocks still helping tremendously on a short term basis.
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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 )
