O Canada:
Our neighbor to the North is known for its energy reserves but within the EWC one would see it chock full of financials and rails. The ETF is on its first 4-week winning streak since the summer of 2021 and it has been trading between the round 30-40 numbers for 2 years now. The top holding in the fund is in the chart below of SHOP which is looking more attractive with this nascent pullback into a bullish inverse head and shoulders breakout. Volume has been superb and PRICE has cooperated since the bullish hammer WEEKLY candle the week ending 10/14 and the prior week recorded a doji candle which are adept at sniffing out possible changes in the prevailing trend. A prudent pause is now occurring after back-to-back 14% WEEKLY gains ending 10/21-28 and last weeks scream higher of 23%. On a WEEKLY basis, the round 40 number has proved tough to CLOSE above with 9 weeks above the figure since losing it the week ending 5/6 as just 2 CLOSED above it. Enter first on a pullback at 37 then add to above 42.