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TSX Financials: My Broken Falling Wedge?
 April 18 2016 ( TradingView, StockCharts.com  )
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The Situation

The Canadian TSX Financials ETF - XFN
​( iShares S&P/TSX Capped Financials Index ETF ) started to outperform ​​
​tremendously since ​​the February 22 2016​ ​​week the Mighty TSX60 Index
​ETF - XIU ​( iShares ​S&P/TSX 60 Index ETF  ). ​​
(See First Chart Below- Weekly Ratio).

​​​​​​We keep testing and bouncing on a relative basis (XFN ETF over XIU ETF)
​a Weekly Major Support Trendline that started back since the February
2 2015 week​ as ​shown by ​the ​​first ​​chart ​below.

(See First chart below - Red Trendline -  Ellipse).

Since bouncing strongly in the week of February 8 on huge volume, the XFN ETF finally broke price wise the Major Resistance Trendline from a weekly falling wedge that started back on November 24 2014 week.
​(See Second chart below - Top Red Trend Line - Ellipse)

​​And as we tested the support trendline on a relative basis and broke the Major Resistance Trendline price wise from that weekly falling wedge, trading Volume tumbled tremendously on the XFN ETF. 
​(See Second chart below - Bottom Blue Area Chart - Ellipse)

But the real battle for Bulls on the XFN ETF will be to break the Major Resistance Trendline that started back in March 2009​​. ​(See Second chart below - Blue Trend Line - Ellipse)



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TSX Financials: My Broken Falling Wedge?     $TSX  #Trading #Canada  #investing  #cew #xiu
Weekly RATIO
​XFN ETF ( iSharesS&P/TSX Capped Financials Index ETF   ) 
over​
XIU ETF ( iShares S&P/TSX 60 Index ETF )​

Financialiceberg.com
Financialiceberg.com
XFN ETF Weekly Candles
​( iSharesS&P/TSX Capped Financials Index ETF )
Volume ( Bottom Blue Line )​