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

Oil Tests The High 2018-10-06 CC Video

by Greg Schnell

Commodities Countdown Oil is extended Gold Miners hold up on a bad Gold day Junk Bonds - clues? Breadth - dismal Indexes need to bounce now To arrive home from a vacation in Bali to an early snowfall in Calgary is quite a shock. Similarly, the market has had some real big changes. Oil is pushing above the prior highs but momentum is extended. Gold down $17 on Monday and the gold miners trade up. Natural Gas continues to extend after the breakout in September in a rare burst. Junk bonds unload which is a big deal. Breadth goes to very weak levels.  Read More 

The Canadian Technician

Technicians Day October 13, 2018

by Greg Schnell

This appears to be a pivotal time for the markets. I am hosting an online and in person conference in Calgary on Saturday October 13th. Could it be a better time to hear some live speakers discuss the current setup?  I have five very exciting technicians joining me on Saturday October 13th from 8 AM MT to 5 PM Mountain time.  If you would like to hear some more thoughts around the current market setup and more discussion, please follow this link. It is a very affordable day and StockCharts members will be authorized to get the best discount. The Past President of the CMT Read More 

The Canadian Technician

Canada Tries To Rally 2018-09-23 Video

by Greg Schnell

This week the Canadian market tried to rally. This rally just got us back ot unchangedd for the year as you can see on the chart. The volume was the highest we have seen in a year due to the Quadruple witching for options. The rally in 2017 started with the big move on a quadruple witching day in September. Lets watch to see if the market can respond again.  The banks also had a nice rally. There is a wide dispersion between the big banks. Energy stocks and material stocks need to turn up but some of the areas are starting to Read More 

The Canadian Technician

Canada's $TSX Sits On The Edge

by Greg Schnell

The $TSX is negative for the year. The monthly chart of the $TSX made a lower high and a lower low in August. 1/3 of the way through September, we have lower highs and lower lows than August. A series of lower highs and lower lows is the definition of a downtrend. This can be seen in the zoom panel. We have been flirting with this long uptrend line shown in blue. This month it looks like we are breaking below the line again. The line shows the Canadian stock market unable to accelerate above the line like it used to do.  In the zoom box, the PPO looks to be giving a sell Read More 

The Canadian Technician

Marijuana Names Soar 2018-08-27 Video

by Greg Schnell

Marijuana names absolutely soared the last two weeks as Canadian legalization approaches. With the rumour of partnership deals in beverages and snacks, the euphoria couldn't be much higher. That might be the problem.  Who doesn't own the stocks that wanted to? The ETF is up 50% in 2 weeks! Individual stocks are approaching 50% to 140% gains in the same period. Here is the Medical Marijuana related ETF. With the volume doubling between Thursday and Friday and now Friday to Monday, this looks pretty significant. The volume today was 5 times average volume!  Read More 

The Canadian Technician

Canadian Markets Follow Through On Weak Breadth Conditions

by Greg Schnell

 Don't forget Chartcon 2018. You can still get access to watch all the recordings of the presenters and the question period. I would suggest taking the time to watch the ChartCon 2018 presentations. The diversity of ideas filled the spectrum of investing styles. The Canadian market has been making lower highs for 5 weeks. Breadth has been decelerating as discussed in the July 31 Canadian Technician video. Here is the link to the 2018-07-31 recording of The Canadian Technician Video. Read More 

The Canadian Technician

Canada's Breadth Starts To Slip 2018-07-31 Video

by Greg Schnell

Canada continues to move higher on lower breadth. This is the Bullish Percent Index in the top panel. The chart shows the percentage of stocks that are on a buy signal. Notice the drop each time the market rallies. Each time we move below the moving average the market retracts.  The number of stocks making new 52 week highs is currently less than the number of stocks making new 52 week lows. At the recent high, we had fewer stocks making new highs compared to January highs. The chart below is the same as the chart above, but you can see how a Read More 

The Canadian Technician

Canada Makes A New High 2018-07-17 Video

by Greg Schnell

The Canadian stock market continues to inch its way to new highs. Amazingly, the oil stocks are holding up while oil falls. The Natural Gas stocks are holding up while Natural Gas falls. The gold stocks are holding up while Gold falls. The miners are holding up while industrial metals fall. So there is a lot of optimism trying to hold the stocks up, while waiting for the commodities to rally. Banks have ticked modestly higher. Defensive sectors have definitely caught a bid. In the very bullish list is the Canadian Technology sector. There are some great looking charts in there. Read More 

The Canadian Technician

Can The $TSX Kick It Up Rodeo Style? 2018-07-03 Video

by Greg Schnell

The first half of the year, saw the $TSX do nothing. After 120 trading days, we ended up 0.3% above the year-end level. The $SPX wasn't much better but it quadrupled the $TSX with a 1.3% gain. That sounds like a lot of trading days to end up within a day of being flat. So with that as a backdrop, we need a little rodeo style to kick this market higher. Unfortunately, the current level of momentum is rolling over after being below zero. One of the key traits I have noticed in indexes is that a large percentage of the time when an index dips into negative territory Read More 

The Canadian Technician

Trading On Both Sides Of A Barbed Wire Fence

by Greg Schnell

With two days left in the quarter, we have some important data points coming out. Friday June 29th will produce an End of Day, End of Week, End of Month, End of Quarter data point. My charts are set up with the tension of a guitar string. Whether it sets off the next Queen - Another One Bites The Dust or the Queen - Don't Stop Me Now is the question.  So here are ten charts that make me very concerned. $BPNYA and $NYA200R.  The first is the bullish percent index for the broader NYSE Index and the second in black histograms is the percentage of stocks above Read More 

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