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 TECHNICALS
SPTSX60 Index: Still into a Downtrend Channel ?
 November 25 ​( From TradingView, Stockcharts  )
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The Situation

​The SP TSX60 Composite Index ( XIU ETF ) is within a Daily Downtrend
Channel​ that started back on October 23 2015 with 19.02 support and
​20.00 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 November 20 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 on the Relative Sentiment of the Canadian and US stock markets (
​Ratio of the Bullish Percentage Index (Sentiment Indicator) on the SPTSX Composite ​Index compare to the Bullish Percentage Index of the Mighty SP500 Index), we are at the weakest level since the beginning
​of 2015. ​
​( See Second Chart Below - Ellipses)​.



​​

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SPTSX60 Index: Still into a Downtrend Channel ? $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
RATIO
​SPTSX Composite Index Bullish % Index ( - Dots - )
over​
​​SP 500 Index Bullish % Index ( - Dots - )
7 DMA ( Blue Line )