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SP500 (SPY)/TSX60 (XIU) Price Volume Trend:  XIU Breakdown ?
​December 11 ( From TradingView, Stockcharts  )
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The Situation

​​​​
We observed that the Price Volume Trend (PVT)of the SP500 (SPY ETF)
​tend ​to ​turn ​earlier ​and or confirm the trend of the SP500 as you may
​see ​in 1rst the chart below. The same idea for the TSX60 Index (XIU ETF).

​​
Since we broke the Major Support Trendline on the TSX60 Index (XIU)
and the Major Rising Wedge Support Trendline on August 20 on SPY​​, ​
​PVT level cratered but at a lower level that the ​previous ​​severe ​
​correction on October 2014. ​(See Charts Below - Bottom Panel - Ellipses)​

XIU recovered sooner than the SP500 Index as PVT tested ​the October
​2014 zone on August 28 2015 but SPY was far from ​that level.​

​​As SPY PVT get stronger from November 13 previous bottom and
​reached almost a level over the November 2 peak, XIU PVT got weaker
​since then, showing tremendous technical weaknesses.​

- On SPY, PVT is still above the November 13 bottom and showing
tremendous ​resilience ( See First Chart Below - Bottom Panel - Blue Line )
and testing a Support Trendline that started back on October 5 ​( See First Chart Below - Top Panel - Thick Grey Line  )​ .
SPY is at only 3.7% from its peak reached on May 20 2015.​

​- In the case of XIU, PVT is well below the November 13 bottom and showing tremendous ​weakness
​ ( See Second Chart Below - Bottom Panel - Blue Line - Ellipse ) ​and already broke a Support Trendline that started back on August 24. ​( See Second Chart Below - Top Panel - Thick Grey Line - Ellipse )​ 
​XIU is down 14.9% from its peak reached on April 15 2015.​

But the most crucial technical factor is that, on a ratio basis ( XIU over SPY ), we are at the lowest level ever recorded since those ETF inceptions.  
​( See ThirdChart Below - Amber TrendLine )​



​​​

"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

SP500 (SPY)/TSX60 (XIU) Price Volume Trend: XIU Breakdown ? $SPY, $XIU  #Trading #investing #xiu #spy #SP500
Price Volume Trend - a Definition

​​PVT is a leading indicator for future price movements. Although interpretation of PVT is similar to the OBV and the Accumulation/Distribution indicators, PVT more accurately demonstrates the flow of money. PVT adds only a proportional amount of volume to the indicator, whereas OBV adds the same amount of volume not considering whether the market closes up a fraction of a point or triples in price.

1.Rising PVT means new money, sometimes referred to as "smart money, " is flowing into the marketplace. The result will be that the present trend will continue. Accelerating PVT rise indicates that "the masses" are joining the new price trend.
2.If the PVT then levels off, it is often an early warning that the trend is finishing.
3.Declining PVT indicates that the smart money is liquidating.
4.If the PVT moves sideways or falls while the price is rising, the increase in price is not confirmed and a market top or bottom may be indicated.
SP500 Index ( SPY ETF - Top Panel )
​​20 DMA ( Yellow Line )
50 DMA ( Red Line )​​
​Price Volume Trend ( Bottom Panel - Blue Line )

Financialiceberg.Com
TSX60 Index ( XIU TEF - Top Panel )
​​20 DMA ( Yellow Line )
50 DMA ( Red Line )​​
​Price Volume Trend ( Bottom Panel - Blue Line )
Financialiceberg.com
RATIO
TSX60 Index (XIU ETF)
over
SP500 Index (SPY ETF​​​)
Daily Candles​