Canada Getting Hammered

...and not in a Bob and Doug Mackenzie kindof way. The iShares MSCI Canada Index (EWC) got punished in premarket today and now sits below the 200 day moving average. So now China (FXI), Canada, and International (EFA) indexes are now all below their long term moving averages. The markets are all still very oversold and "due" for a bounce, but testing the 200 day average three times in 10 trading sessions and breaking below it suggests that the market is running out of buyers so the long-term uptrend we've been riding is probably going to turn down or at best level off in the coming months. In terms of all-time highs, MED is finding some support at the 50 day average and WINA is holding near its high. Here's Canada's chart. Let's see if the trendline offers any support in the coming days.



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