It would appear that the large Canadian banks are poised for a significant correction. Here's a quick look at the daily & weekly charts of the three largest Canadian banks. At best, it would appear that RY.TO (Royal Bank of Canada) might have one more thrust higher within this bearish rising wedge, possibly to print a marginal new high before breaking below the pattern. RY.TO is currently challenging the previous all-time high from late 2014 which occurred just before the stock broke below its primary bull market uptrend line, where it has remained below since. It appears that the [...]
A look at the Canadian stock market via the iShares MSCI Canadian Index Fund ETF, EWC, as well as the outlook for numerous individual stocks that trade on the Canadian exchanges, including several high-yielding dividend stocks.