FINANCIAL ICEBERG
Always consider hidden risks
 TECHNICALS
Canadian Technical Charts Potpourri
 July 23 2017 ( From TradingView)
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​​Canadian Stocks (XIU ETF) correction continue on higher rates fear.​
Stronger Canadian Economic data 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 6 weeks ago the Previous
​Major Weekly ​Double Top Breakout Trendline at 22.78 that was critical 4 Bulls.
​Still into a Weekly ​Downtrend
Channel (See first chart below-Channel)​​.

2​) XFN ETF (iShares S&P/TSX Capped Financials Index ETF) Broke a Weekly
Downtrend Channel Resistance Trendline 3 weeks ago.​ 
(See second chart below -
ChannelStrong Price Compression within a Weekly Rising Wedge. (Blue)
​​
​3) ​XBM ETF (iShares S&P/TSX Global Base Metals Index ETF) broke a
​Weekly Downtrend Channel Resistance. ​​
(See third chart below - Channel)​​
Tested previous Weekly Breakout Trendline (yellow)

​4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF) still into a Weekly
Downtrend Channel​.
(See 4rth chart below - Channel)  Bulls losing ​control as we
​Broke ​the Weekly Support Trendline 8 weeks ago (yellow).​ 

​​​5) Canadian Dollar/ US$ (USDCAD) Broke violently a Weekly Megaphone Support Technical Pattern 3 weeks ago. (See fifth chart below - Blue Trendlines)​  Strongest Weekly close since April 2016.

6) XBB ETF (iShares Canadian Universe Bond Index ETF)  Broke 6 weeks ago a steep Weekly Rising Wedge Support Trendline. ​​(See sixth chart below - Yellow Trendlines)  Still Into a Weekly Downtrend Channel.

7) Canadian VIX Index (​SPTSX60 Volatility) compare to the US SP100 Index VXO is still above the resistance zone. ​ (See seventh chart below - Grey Trendline). Canadian stocks are more Volatile than US stocks with the BOC hawkish bias.

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 Weekly Downtrend Channel.​

​​​9) Light Crude Oil Futures (CL2-NYMEX) Since breaking the Old Weekly Rising Wedge Support Pattern Trendline 8 weeks ago, into a Weekly Downtrend Channel. ​(See ninth chart below - Grey Trendline)​.

​​The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 7 weeks ago. 


​​




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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 )​​