The Canadian Banks are trying to turn up. The group has been under pressure lately, but perhaps its time to buy?
Here's BMO. The Canadian banks have not had this price action weakness in 5 years. The SCTR is bouncing from its lowest level on the chart. Nice positive divergence on the Stochastics. The PPO looks ready to break the downward trend.
RBC looks similar. Weak SCTR turning up.
Greg Schnell, CMT, MFTA