The Canadian banks have underperformed the $SPX so far this year. They have drifted lower since March but they have some interesting traits on the indicators pointing to an interesting time now. Two have yields of 3.65%, two have 3.83% and CIBC has 4.65%.
First of all, BMO. The yield is 3.8% which is very big. I'll come back to the SCTR but the downslope in relative trend was broken this week. While that is hardly a starting point, it coincides with the price breaking back above the 200 DMA. The Friday volume was great and the MACD crossed above the signal line. Looking at the SCTR, I do like when a large cap stock in Canada like a major bank dips below 25 and then starts to climb back up through 30.