The Canadian Technician

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018).

Latest Posts

The Canadian Technician

Canada Prints Very Weak Sector Charts 2018-02-13 With Video

by Greg Schnell

The Canadian charts have been getting weak for a while. The last two webinars pointed to declining strength in the Canadian market. The breakdown in the last two weeks just accelerated the downward trend, it didn't start it. The financial sector really needs to rebound soon to not break the uptrend in momentum shown on the PPO chart. The energy sector is abysmal. The RSI is in bear market mode. The energy sector is near if not at 2-year lows. That was sudden. The 8-month uptrend on the PPO is breaking down at or near zero. That is just terrible. It is Read More 

The Canadian Technician

The Canadian Market Goes Negative On The Year - Video 2018-01-30

by Greg Schnell

The Canadian market broke down and went negative for the year this week. The $TSX made its closing high on January 4th and has receded since then.  The scale is in percentage terms from the last day of December 2017. So this is not great.  What is more alarming is the detail on some of the individual sectors. Starting with Technology, things look ok and the momentum indicators are still pointing positive. Should the trend line on the MACD break, that would be worrisome. The current lower high on the MACD compared with the June 2017 high is an uncomfortable Read More 

The Canadian Technician

Why Canadian Investors Have To Be Way More Cautious Here $TSX

by Greg Schnell

We have seen roughly one day a week of slight downward pressure in the US markets during this huge rally. So the little bit of selling this morning is hardly cause for alarm. The Dow was up 1897 points this month when it closed on Friday. Can it do 2000 points before Wednesday? That's a nice month!!!!! But this blog is mostly about the Canadian market and how it fits with the other global markets. The local news is not so pretty. Let me start by showing a chart of the $TSX and the $SPX off the 2009 lows. The Canadian market has dramatically Read More 

The Canadian Technician

Canadian Market Starts The Year Pausing, New Book And New Video!

by Greg Schnell

The Canadian market ($TSX) has been flat for the month. With a small burst in the first few days, the Canadian market is now only up 0.5%. That compares with the $SPX at 3.85% and the $NDX at 5.33%. While Canadians felt some relief by some rising resource stocks, they were still outperformed massively by the US markets. One of the bright industry spots in the market still appears to be Gold mining. The XGD.TO opened lower today and rallied up to close back in the range of Monday. The zoom box on the right shows this. Natural Gas Read More 

The Canadian Technician

Will Legalization Continue To Stoke Medical Marijuana Investors?

by Greg Schnell

Many stocks are up 100% or more Most have seen dramatic volume surges For Canada, Marijuana within the Healthcare Sector has been one of the single biggest performers over the last month. Let's review what is going on here. The last month shown on the first table has seen spectacular gains. The Percentage Change column is remarkable. The Marijuana stocks have had a wild week. This is a one-week table below. One was up 24%, some were down 30%. Today, it was cautionary. A lot of these stocks do not have an SCTR ranking. Most Read More 

The Canadian Technician

Canadian Technician Video Recording With Greg Schnell 2018-01-02

by Greg Schnell

This weeks Canadian Technician Video Recording 2018-01-02 has lots of information on Healthcare. As a sector that is moving to the upside, it looks timely. There is also information on the merger between Potash Corp and Agrium. Canadian Technician Recording With Greg Schnell 2018-01-02 from StockCharts.com on Vimeo. I also recorded a video for quickly making chartlists with specific industry groups or sectors. Greg Schnell Quick Tip - Industry Group Chartlists from StockCharts.com on Vimeo. Read More 

The Canadian Technician

Canadian Technician Video Recording With Greg Schnell 2017-12-19

by Greg Schnell

This recording includes some specific questions for Utilities and Consumer Staples. It also highlights some of the growth areas for 2018.  Canadian Technician Recording with Greg Schnell 2017-12-19 from StockCharts.com on Vimeo. Good trading, Greg Schnell, CMT, MFTA Read More 

The Canadian Technician

Gold Miners Make 52 Week Lows - Bearish?

by Greg Schnell

The gold mining area is pretty interesting this week. While gold gets sold off every morning just before the stock markets open, it feels bad. Gold was down $34 on the week. Ouch, that's bearish! Still a pullback in the uptrend on a weekly chart, but it did make 4-month lows. Copper also had a lousy week. The current conduit dropped 3.69%. This is similar chart formation to the Shanghai Index which also pulled back this week. A pullback within an uptrend. So with the underlying metals pulling back, its no surprise the miners might pull back. But some Read More 

The Canadian Technician

Canadian Technician Recording With Greg Schnell 2017-12-05

by Greg Schnell

This week's version of the Canadian Technician Recording with Greg Schnell has lots of news. In two weeks, the Canadian market has had a major change in underlying strength. While its not outright bearish, it is definitely cautionary. Very frustrating watching the US market continue to put in higher highs and this week Canada is making lower lows. As well, the Advance-Decline information confirms the problem. If you are bullish on the Canadian stock market this is a good week to check in. I repeatedly suggest not selling everything, but add some protection in the form of options to help Read More 

The Canadian Technician

Gold Wobbles To End The Month

by Greg Schnell

Gold looks to close November near 1-month lows just days from being near 6-week highs. It's not that it has moved a lot, but the range is so tight. The Elliotticians are bearish on Gold here. With the bond market breaking down in price, and yields rising rapidly, Gold appears to want to follow bond prices lower. Then Yen also dropped which is a correlated trade with Gold.   I have been positioning for a bull run in Gold coming into the end of November. Seasonality for Gold in December is good. Obviously, the last two days brings that into doubt Read More 

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