FINANCIAL ICEBERG
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TECHNICALS
Canadian Technical Charts Potpourri
July 30 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 7 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 Rising Wedge. (Blue) Tested and Rejected the Resistance Trendline (red)(See second chart below)
3) XBM ETF (iShares S&P/TSX Global Base Metals Index ETF) still Into a
Weekly Uptrend Channel. (See third chart below - Channel)
Broke 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 lost control as we
Broke the Weekly Support Trendline 9 weeks ago (yellow).
5) Canadian Dollar/ US$ (USDCAD) Broke violently a Weekly Megaphone Support Technical Pattern 4 weeks ago. (See fifth chart below - Blue Trendlines) Strongest Weekly close since June 2015.6) XBB ETF (iShares Canadian Universe Bond Index ETF) Broke 7 weeks ago a steep Weekly Rising Wedge Support Trendline. (See sixth chart below - Yellow Trendlines) Still Into a Weekly Downtrend Channel. Broke Major Weekly Support Trendline that started back in October 2008!
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) Testing a Weekly Downtrend Channel Resistance that started since April 10 2017. (See ninth chart below - Channel).The XIU ETF continue to underperform tremendously the SP500 Index (SPY ETF) as the Bank of Canada surprise us with a restrictive bias 8 weeks ago (mainly the interest sensitive sectors).
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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 )
