The Canadian Technician

February 2013

The Canadian Technician

What Wiley E. Coyote and The Canadian Looney Toonie Have in Common!

by Greg Schnell

The next few days my blogs are all about currencies. The Yen has snapped. That is not news. Let's review how it broke down. In October I wrote about the Yen and the bearish setup. This was the blog link for review.  Love over Gold This was the chart at the time.  A few weeks later I followed it up with another blog about all the $USD Index currencies. For those who like to review  Currencies Blog This was the chart. Look at the progression of the Read More 

The Canadian Technician

When Tech Titans Top - Current Market View

by Greg Schnell

In order to fully understand this article, you will need to read both previous related articles. They can be found by clicking on the links below: When Tech Titans Top - Part 1 When Tech Titans Top - Part 2 Ok. Lets dive right in. Here is the current market. On the above chart, The $SPX is a series of higher highs. Currently the $SPX is testing meaningful resistance levels from both 2000 and 2007. In 2000, the highs were 1527 and 1520. In 2007, the market oscillated above and Read More 

The Canadian Technician

When The Tech Titans Top - Part 2 - Historical Review.

by Greg Schnell

So hopefully you have read Part 1 of When The Tech Titans Top. Click Here to read the article. So now lets roll forward to 2007 when I got my wake up call on owning great tech stocks. The banking stocks primarily reside on the NYSE and make up a significant portion of the $SPX. With a financial based crisis, rather than a tech based crisis like 2000, we would expect indexes to behave differently.The $SPX was starting to break down in July 2007, shown as a steep pullback into August and then a solid Read More 

The Canadian Technician

When The Tech Titans Top - Part 1 - Historical Review.

by Greg Schnell

I have been watching the tech stocks with great interest over the last few months. Not just as investments, but as to their role in the broader market investment theme.  This blog information won't come as a surprise to the webinar viewers but it will be a long multi part blog that we can continue to use to check the status. All the charts are clickable, so lets start this thesis and continue to review to see how we can add more analytical strength to the concept over the next few months and years. At this point its a compelling story. We must verify the results over time Read More 

The Canadian Technician

When Should We Ignore The Data? Intermarket Analysis Helps.

by Greg Schnell

I want to comment about reading the markets. It is challenging to look through indicators. It is not for the glance and go style. We get a variety of signals every day that are  confirming, contradicting, whipsaws, breakouts, breakdowns, channeling, or outright paradoxical. The work of the technician is to find reliable inter market signals that help confirm tops or bottoms in the market. Stepping out to weekly and monthly can help us see the major trends, but usually subtle changes start new moves and show up on the weekly and daily charts.  The title of the blog Read More 

The Canadian Technician

Saturday Afternoon Jamming With Martin Pring

by Greg Schnell

I had the pleasure of spending Saturday with Martin Pring working through chart decks. It was the equivalent of musicians gettting together and jamming. Except we used charts. Sitting in Martin's office just working through different thoughts and concepts while enjoying a cup of tea was just great! Martin's main body of work is the long cycle information from his KST. This can be found in chart indicators. We just had so many charts to discuss, but we both agreed this was one of the more defining times in the market. While Martin's work on the long cycle indicated the start of stage 4 Read More 

The Canadian Technician

Suncor- Are Tightening Bollinger Bands Putting A Noose On Investors?

by Greg Schnell

Suncor lost some Market Cap Ore this week. They delivered a 400 ton truckload of news on their earnings and the stock fell hard.  One week does not make a trend but Suncor has been trending sieways for a while. Unfortunately, this week looks like a decisive decision on the end of the trend. From the high side to the low side all in a week. We'll see if it continues or if it was a whipsaw. It was definitely a shot across the bow for Canadian Energy Watchers. The RSI is still stuck in a bearish Read More 

The Canadian Technician

Mining and Minerals - Trapped Investors?

by Greg Schnell

Recently, I posted about how copper was testing the trendline on weekly charts. Here is the Canadian Mining Index. I'm starting to get concerned. Its not over, but its looking weary. We still have some time. Starting at the top. RSI is breaking down through the upsloping trendline and failing to break above the horizontal bear market line. The Relative strength (SPURS) in purple is breaking downNOT GOOD. The Ultimate oscillator has hit and bounced off the 70 line. The last 2 times marked a top perfectly. Lets move to price. Still Read More