The Canadian Technician

Three Weddings and a Funeral


I like this chart when it is going up. Today scares me a bit.

This is my wall of worry chart. As you can tell, it is my comment or mood board. Let's call it overannotated. I try not to delete stuff even if I'm wrong. Today thats a good thing. 

One of my comments when this chart broke down before was full of caution and the blip ended up being for a couple of weeks. Lets hope this is the same. But hope is nota, repeat nota, trading strategy. 

Keep your eyes on the bond/ T-Bill  market. This looks distressing.

$IRX 20121214

I recognize you can't read it at this level. SO click on the chart and go to the original to read my notes. I thought of just wiping the slate and sending you this chart with one annotation. I think the historical document is way more valuable so you will have to click through for clarity.

I really want the action to turn back up and get support right away.

You'll notice in 2011, the $SPX rallied till the end of April. This chart was already in plunge mode for months.


The reason for my title? I wrote three bullish blogs this week. Look at what happened this week on this chart! Looks like a funeral. 

On a positive note, the 5,10,30 bond yields rose this week and are testing topside breakouts. That should be bullish for stocks. It should tell a story one way or the other. If all the charts pointed the same way, there would be no indecision.

Good Trading,

Greg Schnell, CMT.


Enjoy this article? Hear more from Greg Schnell at

August 10th & 11th, 2018

See how the experts are protecting themselves from market volatility and reducing risk in uncharted waters

Join us online this August for two full days of investing insights, charting wisdom and market commentary from the industry's leading technicians. Streaming live wherever you are, you'll learn exactly how the experts are navigating the market's changing tides and remaining profitable in all conditions.

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at 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). Learn More
Subscribe to The Canadian Technician to be notified whenever a new post is added to this blog!
comments powered by Disqus