FINANCIAL ICEBERG
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 TECHNICALS
SP TSX60 Index (XIU ETF): 50 DMA Rejected ?
 February 10 ​( From Stockcharts  )
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The Situation

​
​​The SP TSX60 Composite Index ( XIU ETF ) is still trading within a 
​Falling Wedge Pattern that started back since ​October 16 2014​.
We did have a false break down in Mid-January and a strong dead cat 
​bounce followed...​ ​​( See 1rst Chart Below - Top Panel -  Red Trendline ) 

​​​​​​​​​​​​​​​​​​But one interesting technical factor is that​​ the ​SP TSX60 Composite ​Index 
( XIU ETF ) tested ​last week on February 5 the 50 DMA ( Day Moving 
​Average ) and was rejected violently.​ 
​(See Chart Below - Top Panel -Red Line - Ellipse )​. 

​​But the most interesting technical factor is that at the same time the 50 DMA was rejected, we were testing the resistance trendline from the PVT indicator ( Price Volume Trend )...
​​( See  Chart Below - Bottom Panel -Amber Trendline - Ellipse )​. 



​​

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SP TSX60 Index (XIU ETF): 50 DMA Rejected ? $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 )​​


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Financialiceberg.com