The Mexican – Canadian Wars
- Posted by Greg Harmon
- on November 29th, 2012
Now until December 2nd, the Annual Membership can be had at a Special Fibonacci Discount to the Rolling Monthly Rate. 38.2% off or $667.44. Follow the link here.
While the US is holding elections, spending more than it has and blathering on about the Fiscal Cliff our neighbors to the north and south have been quietly fighting a war. A stock war that is. And Mexico has been kicking some Canadian booty. The weekly ratio chart below shows long rising channel with the Mexico iShares, $EWW, outperforming the Canada iShares, $EWC, since October 2011. The shorter term view, from June 2012 shows an ascending triangle building with a top at
2.43 that has been tested twice. Now working on its third higher low, another test seems imminent with a bullish Relative Strength Index (RSI), a Moving Average Convergence Divergence indicator (MACD) that is turning positive and a Accumulation/Distribution line showing continued accumulation. Above 2.43 the target becomes 2.76 or 13.5% higher. Still plenty of room to run.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Corning is setting up for another breakout higher
- Premium Earnings 3-5-15
- The Canadian Dollar is starting to thaw
- Make some money while you sleep with Tempur Sealy
- Premium Earnings 3-4-15
- The Oil to Bond Ratio is Confirming a 6 Year Double Bottom
- Assembly Biosciences Looks to Join the Percussion Section
- Premium Earnings 3-3-15
- Here Comes the Dollar’s Next Leg Higher
- Put Raytheon on Your Radar