The Canadian Technician

November 2014

The Canadian Technician

More Oilpatch Destruction Reviews

by Greg Schnell

Yesterday I reviewed the 10 largest components of the XEG.TO energy ETF. Today, I'll cover the next 10. These ones are interesting because some of them have been high growth stocks and at some point, worth having on your radar. Let's jump right in with almost all the same chart settings. I took out the always valuable SPURS in purple that were on the top ten. All oil stocks were underperforming so it doesn't help us a lot right now. Here is Vermilion Energy. That is a chart to love. Big beautiful run up. Well, it's 31% off the highs. The SPURS ranking has never been this low Read More 

The Canadian Technician

Oil Producer Stock Prices Plummet! Assessing The Carnage In The Top 10

by Greg Schnell

Well, there was not a lot of support on crude at $72. That was an area of interest but it clearly washed out. Now that the price has plummeted, it feels a bit like the aftermath of a weather disaster. When you look around you are amazed at the damage. I am going to roll through the top 10 holdings in the iShares Canadian Energy ETF. (XEG). The order will be from the largest to the smallest holding. We start with Suncor (SU.TO).  The SCTR is now in the bottom 25% of all stocks on the $TSX. While it is still going down, It might not be the opportunity to buy it but it is 20% Read More 

The Canadian Technician

20 Year Bond Fund (TLT) Makes A Higher Level Decision

by Greg Schnell

The twenty year bond fund (TLT) has been trapped in a tight trading range for 1 month. Unbelievably tight actually. Today it stepped up through resistance. TLT bottomed on September 17th, and broke through the down trend line on September 19. September 19th marked the September option expiration as well as the Alibaba IPO day. We can see that TLT made a relentless climb while the equity market pulled back. TLT topped the day before the October 16th bottom in the equity market. If the equity market is going to weaken, we could watch to see if the bond market starts to rally like Read More 

The Canadian Technician

When WalMart (WMT) Rises $30 Billion In Two Weeks...Whatever....

by Greg Schnell

I have so many charts that feel important here. I have reviewed Walmart (WMT) before. But I haven't found many instances in recent years where the 'grocery store in every neighbourhood' stock rallies 10% on a breakout in 9 days. I find it a little hard to believe that the $270 Billion Dollar behemoth we know as Walmart put a new product at the end of the aisle that increased its market cap by $30 Billion this month! Here's the chart. Walmart is up $13.6% since the Nov 3 low and up 10 percent in 9 days. Well, after a contemplative day rolling through a Read More 

The Canadian Technician

Goldman's Commodity Index Review

by Greg Schnell

I look at 6 of Goldman's Commodity Indexes. Let's take a quick look at the charts. Here is the Precious Metals Index ($GPX). Starting at the RSI, we are still in a bear trend with the red line across the top. This is an interesting place as we try to double bounce off the 30 RSI level. In the background is the SP500 Relative Strength what I call SPURS. So the SPURS shows the $GPX or precious metals index continuing to under perform. This price breakdown was capable of wiping out all the long positions. This is an important place to watch or invest with Read More 

The Canadian Technician

Ring, Ring, Ring, Ring, Hello? New 52 Week High? Other than Apple Who Could It Be?

by Greg Schnell

The technicians. We are a complex bunch. Thousands of interpretations of different indicators. But today, Telus (T.TO) rang up a new 52 week high. It can't be much simpler than someone willing to pay more for the stock than ever before.  My iPhone cell plan is more money, the iPhone is in high demand and Telus actually have stock. Is it more than that? Maybe, but the chart tells us that the investors have found renewed interest after Telus hovered between 36 and 41 for the whole year. The SCTR is above 75. The SPURS are sloping up. The MACD has turned up. Stops Read More 

The Canadian Technician

Amazon (AMZN) Breaks The Down Trend Line But Still Weak On RRG

by Greg Schnell

Amazon (AMZN) has really been out of favour with all the love thrown towards the Alibaba baby (BABA). But there are some interesting reasons to look at Amazon today. Amazon made a textbook double bottom in October. This week it is climbing above the downtrend line heading into the Christmas season. Will AMZN be able to to return to its former trend after taking a year to go sideways? Here are the reasons I like the chart. The textbook double bottom where the price on the right just slightly undercuts the price on the left to get rid of any Read More 

The Canadian Technician

Lumber's Slumber Leads Us To Wonder

by Greg Schnell

So I keep noticing lumber related stocks going up, yet Lumber ($LUMBER) is not performing. First here is $LUMBER. Does this look like a chart generating breakout moves on lumber stocks? It did not to me. Here is a look at a CandleGlance view of USA and Canadian Lumber related stocks. This includes a few paper stocks.  You can look at the SCTR rankings and notice how many are near or above 75. I don't have a reason for it, which makes me more cautious. There are a significant number of stocks Read More