​​Canadian Stocks (XIU ETF) trading higher on Banks stocks..​
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 15 weeks ago the Previous
​Major Weekly ​Double Top Breakout Trendline at 22.78 and tested is last week.
​Broke 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 9 weeks ago (Blue). Broke last week 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 3 weeks ago. ​​(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) broke 2 weeks ago
​Weekly Downtrend Channel​. ​(See 4rth chart below - Channel)  Bears need to keep it
​below the previous Weekly Breakdown Trendline (yellow).​ 

​​​5) Canadian Dollar/ US$ (USDCAD) Broke violently a Weekly Megaphone Support Technical Pattern 13 weeks ago. ​(See fifth chart below - Blue Trendlines)​  Still Into a  Weekly Downtrend Channel.

6) XBB ETF (iShares Canadian Universe Bond Index ETF)  Broke 15 weeks ago a steep Weekly Rising Wedge Support Trendline. ​​(See sixth chart below - Yellow Trendlines)  Broke 3 weeks ago 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 getting more 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. Rebounded from the Support so critical for Bulls. ​ (See ninth chart below - Channel)​.

​​The XIU ETF finally started to out perform the SP500 Index (SPY ETF) as the Bank of Canada hikes rates last week and was beneficial to Banks 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