Wednesday’s ETF Chart To Watch: EWC Tests Support

Weaker-than-expected China GDP data over the weekend spurred panic selling that resulted in a massive Monday morning sell-off on Wall Street. Profit taking pressures were further bolstered by homebuilders sentiment data, which missed the marked after the figure came in at 42 versus last month’s reading of 44. Nonetheless, better-than-expected housing starts data on Tuesday helped to restore confidence and fuel a broad-based rebound on Wall Street [Download 101 ETF Lessons Every Financial Advisor Should Learn]. The iShares MSCI Canada Index Fund will make its way onto our radar screen later this morning as the Bank of Canada interest rate decision is slated to take place. Canada ETFs could experience volatile swings as investors digest the latest rate change news along with economic outlook commentary; analysts are expecting for the Bank of Canada to hold rates steady at 1.00% this time around. Chart Analysis Consider EWC’s one-year daily performance chart below. This ETF enjoyed a strong [...] Click here to read the original article on ETFdb.com. Related Posts: 3 ETFs To Watch This Week: XRT, XHB, EWC Friday’s ETF Chart To Watch: MSCI Canada Index Fund (EWC) How To Use A Pairs Trading Strategy With ETFs 3 ETFs To Watch This Week: VXX, XLI, EWC Thursday’s ETF Chart To Watch: MSCI Canada Index Fund (EWC)