FINANCIAL ICEBERG
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Canadian Technical Charts Potpourri
September 24 2017 ( From TradingView)
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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
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 )
