The Canadian Technician

Industrial Metals Lead The Pack -Webinar Skim 2017-01-24

by Greg Schnell

The industrial metals stocks have ratcheted their way to the top of the SCTR rankings. They appear to be continuing to accelerate. The Capped Materials ETF (XMA.TO) in Canada broke out to 3-month highs Tuesday. The Relative Strength Ratio in purple is just about at 3-month highs as well. The MACD has surged into positive territory after spending 4 months below the zero line. This group has room to run and this chart has some resistance 10% higher than this level. The Gold stocks continue to work higher, begrudgingly it would seem. They seem to Read More 

The Canadian Technician

Canadian Exploration Companies Current Rankings - Ouch!

by Greg Schnell

The Canadian Oil and Gas Exploration stocks have fallen off the luster list. With only 17 of them above 75% (top Quartile) on the SCTR ranking, it is pretty dismal. This list only looks at TSX listings, above $1. This list is sorted based on the StockCharts Technical Ranking (SCTR) which ranks a stocks price movement compared to everything on the $TSX over the last 200 trading days. A stock with an SCTR of 80% is performing better than 80% of the stocks in the $TSX. I have also set the % Change indicator to one month. As you can see, even though oil is Read More 

The Canadian Technician

$TSX Continues To Drift Back From The Highs - StockCharts Ratio Charts

by Greg Schnell

Two weeks ago, the $TSX made a big push up to new 52 week highs. The intraday high was 15621. The candles around the high have some interesting traits that should be noted as this might mark a more meaningful top for the next few weeks or months. The market surged above the previous levels of 15400 shown with a red line. The original breakout day saw the $TSX close near the highs of the candle. The final high candle I am referring to has an orange arrow next to it. We can see it pushed higher and closed in the middle of the range which is perfectly normal. The next day, the Read More 

The Canadian Technician

Energy Stocks Pop, Drop, Fizzle, Fizz - Webinar Skim 2017-01-10

by Greg Schnell

The Canadian Energy ETF ( XEG.TO) made one month lows this week with oil just slightly off the highs. Some of the big leaders have started to pull back as well. Seven Generations Energy (VII.TO) is a great example. Some of Canada's other sectors are at critical junctures. The Income Trusts and the REIT's are both checking resistance at the 200 DMA from the bottom side. Failure to get through is a big deal here. Here is the Income Trust Index ($RTCM). Notice the May 2015 test of the 200 DMA from the underside Read More 

The Canadian Technician

Auto Stocks Are Breaking Out Of Bases

by Greg Schnell

The auto sector has been slowly climbing a wall of worry. Donald Trump adding his 140 characters has made everyone look at the auto charts the last few days! But more importantly, the investors are already rolling on these wheels. First of all, the auto sector was one of the worst performing sectors last year. In a big up year (2016) for the markets, the car guys were not being bought. Here is a look across the worst performing industry groups in the US markets. The Autos were down 4.56% in the '% change' column. Automobile parts (-1.71%) and tires (-5.75%) were also in the Read More