Always consider hidden risks
SP TSX60 Index (XIU ETF): Near Break Out?
 March 3 2016 ​( From TradingView  )
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The Situation

​​​​​​​​​​​​​​​​​​But one interesting technical factor is that​​ the ​SP TSX60 Composite ​Index
( XIU ETF ) broke on the upside the 50 DMA ( Day Moving ​Average ) on
​February 17, a good sign indeed. ​(See Chart Below - Top Panel - Red Line - Ellipse )​.

​​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 )

We are now testing the ​Resistance of that Wedge at 19.30.Bulls need to break that Wedge Resistance for a sustained rally.

​​But one interesting technical factor is that at the same time we are testing the Resistance of that Falling Wedge, we already broke the resistance trendline from the PVT indicator ( Price Volume Trend )...
( See  Chart Below - Bottom Panel - Amber Trendline - Ellipse )​.

​​At a time we are near testing the Resistance of that wedge in price for the XIU ETF, Relative Volatility
​( Canadian TSX60 VIX over US SP500 VIX ) is at the highest zone of the past 4 years as shown by the second chart below.

​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 American one...​​
​( See 3rd Chart Below - Red Trendlines -Ellipse )​.



SP TSX60 Index (XIU ETF): Near Break Out? $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 )​​
SP500 Index VIX - CBOE
​( Daily Blue Line )​​
​SP TSX 60 Index - XIU ETF
SP500 Index - SPY​​ ETF
​( Daily Candles )​​