Financials Indicator

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Ignore unprepared Poloz; flying Financials are a strong bullish signal for the Canadian economy and stocks

As we put together our weekly Monday market comments for INK subscribers, we are focusing on the Financials which have been ripping higher over the past month. The S&P/TSX Financials Index is up 6.5% over the past 30 days. It is often said that a sustainable market rally is not possible without the participation of the Financials, so seeing the group leading the overall market is an encourage sign. The positive price action is supported by our INK Financials Indicator which is signalling that the stocks in the sector put in a significant low in August.

Here comes the changing of the guard

As we head towards summer, tourists to Ottawa can look forward to the daily red coat changing of the guard ceremony on Parliament Hill. For Canadians, it is a must see. We give our nation's capital a nod this morning, not to recognize the pre-election vote-buying in Parliament by both the government (seniors-focused giveaways) and the opposition (millennial-focused giveaways). Instead, we would be remiss not to acknowledge another milestone achieved by Ottawa-based entrepreneurs, this time at Shopify (SH).

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