Always consider hidden risks
SP TSX60 Index: My Rising Wedge ?
 November 2 ​( From Stockcharts  )
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The Situation

​The SP TSX60 Composite Index ( XIU ETF ) is within a Daily Rising
​Wedge that started back on August24 2015 with 19.74 support and
​20.78 as resistance. ​( See 1rst Chart Below - Top Panel - Blue Trendlines )

​​We observed that the Price Volume Trend the SP TSX60 Composite ​Index
​( XIU ETF ) failed to make new highs when we tested the Resistance
​Trendline of the Daily Rising Wedge​, a weak technical sign indeed...

( See 1rst Chart Below - Bottom Panel - Blue Trendline )

​​​​​​​​​​​​​​​​​​But one interesting technical factor is that​​ my TSX Trendicator  was in
​Divergence since October 14 2015;Lower Highs on the Trendicator as the SP TSX60 was testing that Resistance Zone from that Rising Wedge, another weak techincal sign...

​​But the most interesting technical factor is that we have been
 testing over the past two months for the
​SP TSX60 Composite ​Index the Monthly Major Trendline  that started back on March 2009 and failed to close above.
​( See Second Chart Below - Amber Trendline )​.



SP TSX60 Index: My Rising Wedge ? $TSX  #Trading #Canada  #investing  #tsx60
 SP TSX 60 Index - XIU ETF ( Daily Candles - Top Panel )​​
​​20 DMA ( Yellow Line )
​​50 DMA ( Blue Line )
200 DMA ( Red Line )

​SP TSX 60 Index - XIU ETF PVT  ( Bottom Panel )​​
SP TSX60 Composite Index
Monthly Candles​