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 TECHNICALS
SP TSX60 Index: Near Support of my Rising Wedge ?
 November 9 ​( From TradingView, Stockcharts  )
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The Situation

​The SP TSX60 Composite Index ( XIU ETF ) is within a Daily Rising
​Wedge that started back on August 24 2015 with 19.92 support and
​20.80 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​ on October 23rd 2015, 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 technical sign...

​​But the most interesting technical factor is that we almost kissed the 200 DMA ( Day Moving Average ) on the 

​Bullish Percentage Index ( Sentiment Indicator ) on the SP TSX Composite ​Index on October 29 and faded...
​( See Second Chart Below - Red Trendline - Ellipse)​.



​​

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SP TSX60 Index: Near Support of 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 )​​

Financialiceberg.com
Financialiceberg.com
SP TSX Composite Index Bullish % Index ( - Dots - )
7 DMA ( Blue Line )
200 DMA ( Red Line )​