View from Toronto: Trade Ideas for US, Canadian Markets


Ziad Jasani Image Ziad Jasani Managing Director and Partner, Independent Investor Institute

While Oil remains above $48.50 the TSX is likely to remain above support of 15,175-110, but watch out below if Oil breaks, if Oil holds above $49.50 to close August 4, 2017 another test of its 200-Day Average is possible (15,335) but unlikely successfully break above.

• Financials hold-up the front of the week with better chance to weaken into end of week.

• Energy attempts to continue bounce to start week, but fails into end of week. Materials struggle for most of the week, especially precious metals. Defensives, struggle with higher yields and are better to be faded.

• Trade-able short-term the front half week ↑ (CDN):

iShares S&P/TSX Capped Composite Index (XIC-T)
iShares S&P/TSX 60 Index ETF (XIU-T)
iShares S&P/TSX Capped Energy Index ETF (XEG-T)
iShares S&P/TSX Capped Financials Index ETF (XFN-T)
BMO S&P/TSX Equal Weight Banks Index ETF (ZEB-T)

My suggested trade ideas and scenarios follow on this chart and in the accompanying video.


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