Always consider hidden risks
SP TSX60 Index (XIU ETF): Still into a Falling Wedge ?
 February 2 ​( 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 - Red Trendline - Ellipse )

​​​​​​​​​​​​​​​​​​But one interesting technical factor is that​​ the ​SP TSX60 Composite ​Index
tested ​last month the Monthly Major Support Trendline that started back
​since October 2011 and also the .382 Fibinacci retracement at the 18.35
zone and closed higher.  (See Second Chart Below - Grey Trendline - Ellipse )​.

​​But the most interesting technical factor is that on a Relative Basis ( XIU ETF over SPY ETF ), we are testing the resistance trendline from a Major Falling Wedge that started since May 2009. Breaking that resistance will bring a strong outperformance of the Canadian Stock Market over the Americain one...
( See Third Chart Below - Red Trendlines - Ellipse )​.



SP TSX60 Index (XIU ETF): Still into a Falling 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 - XIU ETF
Monthly Candles​
​SP TSX 60 Index - XIU ETF
SP500 Index - SPY​​ ETF
​( Daily Candles  )​​