FINANCIAL ICEBERG
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Canadian Technical Charts Potpourri
November 27 2016 ( From TradingView, CNN Money )
November 27 2016 ( From TradingView, CNN Money )
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Three weeks ago, Canadian Stocks (XIU ETF) followed the Trumpification of
Financial Markets as pro-growth and reflation theme within a protectionism
bias repriced violently all Major Market Sectors. Sectors winners: Industrial
and Financial, Sectors losers: Interest rates sensitive: Utilities and Bonds.
Some Technical Charts and Short Comments on Canadian financial products:
1) XIU ETF (iShares S&P/TSX 60 Index ETF) broke the Weekly Rising Wedge
Technical Pattern on Low Volume. (See first chart below, Yellow trendlines)
2) XBM ETF (iShares S&P/TSX Global Base Metals Index ETF) is the surprise
this week as it finally broke the Major Resistance that started since
June 2013! (See second chart below - Grey Trendline)
3) XFN ETF (iShares S&P/TSX Capped Financials Index ETF) continue its
strong performance since we broke the Weekly Rising Wedge that started
back since February 2016. New High Ever on Lower Volume. Careful here...
(See third chart below - Left - Blue trendlines)
4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF) Weekly New High
with a bad Shooting Star Candle. Tested the New Rising Wedge Resistance Trendline and failed to break it. (See fourth chart below - Right - Yellow Trendline - Ellipse)
5) Canadian Dollar/US$ (USDCAD) is still into a strong skirmish to break the Resistance of a Weekly Rising Wedge. (See fifth chart below - Blue Trendlines)
6) XBB ETF (iShares Canadian Universe Bond Index ETF) broke violently a Weekly Support Trendline that started back since November 2015 (See sixth chart below - Blue Trendline - Ellipse) and now below the previous Breakout Trendline that started back since February 2015! (Grey Trendline)
7) Canadian VIX Index (SPTSX60 Volatility) compare to the US VIX is rising faster (atypical in an uptrend for stocks) and now at the Resistance Zone. (See seventh chart below). Cdn stocks more Volatile than US.
8) Natural Gas Futures (NG2-NYMEX) is near retesting the Weekly Resistance from February 2014! (See eight chart below - Blue trendline - Ellipse) and surprisingly back above the Support Trendline (Grey)
9) Light Crude Oil Futures (CL2-NYMEX) retested a Major Resistance Trendline and failed to break it yet.
(See ninth chart below - Grey Trendline - Ellipse) Take note of the Long-Legged Weekly Doji...
The XIU ETF is surprinsingly underperforming the SPY ETF (+2.8% vs +3.6%) since November 8 2016 with overweight in Financials (40.41% of XIU), Energy (21.57%) and Base Metals (10.20%).
Financial Markets as pro-growth and reflation theme within a protectionism
bias repriced violently all Major Market Sectors. Sectors winners: Industrial
and Financial, Sectors losers: Interest rates sensitive: Utilities and Bonds.
Some Technical Charts and Short Comments on Canadian financial products:
1) XIU ETF (iShares S&P/TSX 60 Index ETF) broke the Weekly Rising Wedge
Technical Pattern on Low Volume. (See first chart below, Yellow trendlines)
2) XBM ETF (iShares S&P/TSX Global Base Metals Index ETF) is the surprise
this week as it finally broke the Major Resistance that started since
June 2013! (See second chart below - Grey Trendline)
3) XFN ETF (iShares S&P/TSX Capped Financials Index ETF) continue its
strong performance since we broke the Weekly Rising Wedge that started
back since February 2016. New High Ever on Lower Volume. Careful here...
(See third chart below - Left - Blue trendlines)
4) XEG ETF (iShares S&P/TSX Capped Energy Index ETF) Weekly New High
with a bad Shooting Star Candle. Tested the New Rising Wedge Resistance Trendline and failed to break it. (See fourth chart below - Right - Yellow Trendline - Ellipse)
5) Canadian Dollar/US$ (USDCAD) is still into a strong skirmish to break the Resistance of a Weekly Rising Wedge. (See fifth chart below - Blue Trendlines)
6) XBB ETF (iShares Canadian Universe Bond Index ETF) broke violently a Weekly Support Trendline that started back since November 2015 (See sixth chart below - Blue Trendline - Ellipse) and now below the previous Breakout Trendline that started back since February 2015! (Grey Trendline)
7) Canadian VIX Index (SPTSX60 Volatility) compare to the US VIX is rising faster (atypical in an uptrend for stocks) and now at the Resistance Zone. (See seventh chart below). Cdn stocks more Volatile than US.
8) Natural Gas Futures (NG2-NYMEX) is near retesting the Weekly Resistance from February 2014! (See eight chart below - Blue trendline - Ellipse) and surprisingly back above the Support Trendline (Grey)
9) Light Crude Oil Futures (CL2-NYMEX) retested a Major Resistance Trendline and failed to break it yet.
(See ninth chart below - Grey Trendline - Ellipse) Take note of the Long-Legged Weekly Doji...
The XIU ETF is surprinsingly underperforming the SPY ETF (+2.8% vs +3.6%) since November 8 2016 with overweight in Financials (40.41% of XIU), Energy (21.57%) and Base Metals (10.20%).
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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
-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 )
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 )
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 )
Natural Gas Futures ( NG2 )
Volume ( Bottom Blue Area )
Financialiceberg.Com
Financialiceberg.Com
Financialiceberg.Com
Weekly Chart ( Candles )
Canadian Dollar/USD pair ( USDCAD )
Canadian Dollar/USD pair ( USDCAD )
Financialiceberg.Com
Weekly Chart
SPTSX Global Base Metal Index ( XBM ETF - Top Panel - Candles )
SPTSX Global Base Metal Index ( XBM ETF - Top Panel - Candles )
Financialiceberg.Com
Weekly Chart
SPTSX Financials ( XFN ETF - Top Panel - Candles )
XFN ETF Volume ( Bottom Panel - Blue Area )
SPTSX Financials ( XFN ETF - Top Panel - Candles )
XFN ETF Volume ( Bottom Panel - Blue Area )
Weekly Chart
SPTSX Energy ( XEG ETF - Top Panel - Candles )
XEG ETF Volume ( Bottom Panel - Blue Area )
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 SP500 Index Volatility ( VIX )
TMX SPTSX60 Index Volatility ( VIXC ) vs
CBOE SP500 Index Volatility ( VIX )
Weekly Chart ( Candles )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
Oil Futures ( CL2 )
Volume ( Bottom Blue Area )
