Friday’s ETF Chart To Watch: EWC Nears Resistance Ahead Of Jobs Data

U.S. stocks entered into green territory on Thursday after enduring a two day profit taking wave on Wall Street. The bulls prevailed despite mixed economic data releases on the day; domestic weekly jobless claims disappointed after a greater-than-expected number of people filed for unemployment benefits, while upbeat China trade data encouraged investors that the slowing growth trend overseas could soon reverse [see also The Best Dividend ETF For Every Investment Objective]. Our chart to watch for today is the iShares MSCI Canada ETF , which will come into focus as investors digest the latest Canadian employment report. Analysts are expecting for Canada’s unemployment rate to hold steady at 7.1% while jobs are expected to have increased by 10k for the month of July. Chart Analysis Consider EWC’s one-year daily performance chart below. EWC has endured a very choppy trading year; notice how this ETF has traded lower within a fairly well-defined channel (red [...] Click here to read the original article on ETFdb.com. Related Posts: ETFdb Weekly Watchlist: XRT, ITB, EWC Hinge On Consumer, Housing and Canadian GDP Data Friday’s ETF Chart To Watch: EWC Rebound Hinges On Canada CPI Data Friday’s ETF Chart To Watch: EWC Battles Resistance Ahead Of Canada’s Employment Report ETF Insider: U.S. Bull Market Hits All-Time Highs ETF Insider: Hedge Your Bullish Bets This Week