TSX INDEXES for Energy, Real Estate, Financial Services, Gold and the Bank of Canada Commodities in $CAD

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​In August 2018 the Canadian commodities index (CCI red plot line) failed the test at resistance despite CPI (1 month data lag) ticking up to 3% and the up-trending USD/CAD since the beginning of February 2018 that has increased import costs into Canada. 
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Note that the inset Thompson Reuters CRB chart in the chart above shows that global commodities measured in USD has been dropping since 2008.
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The Canadian energy sector excitement at the end of FY 2016 has been muted by a weakening CAD and now from all the trumpeting below the border about energy independence and tariff threats. ​The relentless energy sector downtrend (black plot line) since the manic high of July 2008 continues to stair step down.

Gold bullion prices although building a long term base took another hit along with the energy sector as the strengthening USD weighs on both.
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In 2007 financial fears and energy anxieties had real estate appraisers dusting off their calculators and adding the income approach and replacement calculations back onto their comp-heavy arguments.

Comparative analysis becomes moot in a no-bid-thin-bid market and gives way to fundamental and financial analysis when looking at physical assets.​​​

​Now a decade later, the energy sector is showing signs of exhaustion. If it rolls over, the animal spirits in the real estate market will get spooked.​​​
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Calgary buyers are still hitting asking prices despite rising inventory but perhaps neutralized by earnings which remain the highest in the country.​
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