Thursday, May 29, 2008

Canadian Financials (XFN)

1 year chart of the XFN, the Canadian Financials ETF.

Commentators have been saying for some time that the Canadian Banks are less exposed to the sub-prime fiasco and more conservatively managed. If the downtrend line holds, things may get ugly. Technical indicators appear mixed: Slow STO has bottomed which may mean a bounce or short term spike above the green downtrend while the RSI remains in a downtrend.


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