The Canadian Technician

November 2012

The Canadian Technician

SCU - Finding Surging Stocks in USA and Canada

by Greg Schnell

I found these through various searches today. If you enroll in SCU you'll find charts like this every day! They all look stellar depending on your trading style. I didn't link them, but you can easily look at them with your favorite settings.  IDIX is bottom fishing if that is your style. Found IDIX on top up tab on the Home Page today under Nasdaq. Here is a stock breaking out to new highs if that is more your style.Found this on the same top up tab on the Home Page today under Nasdaq.   Read More 

The Canadian Technician

Heads Up...So is Copper!

by Greg Schnell

Copper made 5 week highs today. Which is probably why the mining stocks started to accelerate. Copper is called Dr. Copper because of its ability to forecast economic turns. I like seeing a 2 week high on sensitive stuff like copper. This huge breakout is big news to me. Notice my big blue arrow showing Copper jumping up and closing above both the 10 week and 40 week MA. TCK, FCX and BHP have all broken the down trend. RIO and VALE are pressing the line. Breakouts on both would signify a sector change. I also noticed there was major insitutional buying starting to show up in the mining Read More 

The Canadian Technician

A New Bull Rally... Do You Agree?

by Greg Schnell

This is one of my favorite methods of analysis. I like to stay aware of the MACD levels relative to historical norms. The Green arrows represent bounces from this level that happened in the SEP/OCT/NOV time frame. The black arrows mark bounces from this level at other times through a year. The reality appears to be that when the MACD is pulled down this far by the investing community, there is usually enough ammunition for a big bounce. The S O N months, have 17%, 22% and 28% rallies from this level. The other months produced rallies of 15%, 10%, 7% Read More 

The Canadian Technician

$TSX bull bear fight. A Support Resistance Explanation

by Greg Schnell

A local family was out for a walk in the mountains yesterday. They accidently found themselves near a bear. They were surprised and so was the bear. They startled the bear and the bear attacked them. This chart demonstrates why our market making ancestors  named a 'down market' a 'bear'. It shows up almost randomly, attacks suddenly, is very painful and survival is not assured. Remember this chart in the context of the US market continuing to go to new highs. You can see that in the Spring of Read More 

The Canadian Technician

Making Huge Money....aah, I Forgot To Click!

by Greg Schnell

Do you ever look at a chart and go.'wowdid that ever movetoo bad I missed that? With Gold up $20 today is there anywhere else we could find some shiny investments? Well, absolutely there is!!!! Have you figured out the home page is the Shiny Road to Riches? What home page? Well, the Stockcharts home page. Let me show you some beautiful ideas from the last week. Here is LEG.TO. After a 40% surge it went into a sideways base.  Earlier in the week it was TCK/B.TO, Today it was Read More 

The Canadian Technician

Thinking about Thanksgiving

by Greg Schnell

Took a brief tour of the charts this morning and AG pops up as interesting. This chart is a compendium on Technical Analysis. Lets start with the RSI. The runup in July tagged 70 so we associate that with a new bull market. The pullback has been gentle and has now found support around the 50 line. We don't want it to go under 40. Behind the RSI in Purple is the relative strength. It is gently pulling back or underperforming. We would like to see that break above.  When we look at the price chart Read More 

The Canadian Technician

CNQ is Reaching Unloved Status..

by Greg Schnell

CNQ exists as a bright spot in Canadian Exploration. A massive company built by investing when everyone was scared and trying to do things differently. Their Fort MacMurray Oilsands project called Horizon was trying to be one of the lowest cost construction projects in the region. Costs still escalated but they are one of the few at the bottom of the construction pricing range. I emphasize that because building each one of these facilities is like building 2 or 3 entire automotive factories. The number of associated jobs for construction and for long term employment is massive. They can Read More 

The Canadian Technician

Farming Apple's (stops!)... Just in Time for Thanksgiving's Apple Pie

by Greg Schnell

Textbooks are written about trading. Some don't see enough investors eye balls. This chart has some serious technicals right now. Let's watch Apple to see a trade progression here over the next few weeks. OK a few things have happened. Apple has pulled back 50% on some of the previous pullbacks in this uptrend which were scary for investors to behold. Is Apple done pulling back now? I think the big market top in Apple is in, but what about right here and now? What to do? Apple kissed $505.00 this morning on a serious pullback. But here at the middle of the day, the volume is Read More 

The Canadian Technician

$COPPER has Frozen. Will the Pipes Burst?

by Greg Schnell

Copper has spent the week wobbling above this major upsloping trendline. It has fallen almost 10% since September. If this starts to split, we'll be staring at a significant downside move. Copper continues to test this neckline. The major mining stocks shown below are sideways for the last 3 months at best which is slightly outperforming the metals down move. Keep watching. Offense or Defense. and Good Trading. Don't forget to register for the Stockcharts University courses in Dallas, Calgary and Orlando. The link is on the right on the home page Read More 

The Canadian Technician

$TSX - SPURS are kicking in. Can the Mule Move?

by Greg Schnell

The $TSX has recently started to outperform the $SPX. THe Purple area is the SPURS. Relative Strength to the $SPX. It is pushing up. However, the $TSX is stuck in this channel. A breakout to the topside would mark a commodities breakout. A break down is very important. I think it goes lower on Energy weakness. But the chart holds the facts. Follow the chart. Good Trading Greg Schnell, CMT Read More 

The Canadian Technician

XLF- Is the Financial Sector Signalling a Major Top?

by Greg Schnell

I am not a banker. I rarely write about the USA bank sector.  Today is a new day! Here is a view into the Financial Sector in the USA. I don't think we should change the ticker to CLIFF just yet, but this appears to be breaking down. This daily chart has lots of negative divergence. My main concern here is all of the blogs recently have played out as an intermarket package. The major tech stocks have broken Read More 

The Canadian Technician

The $US Dollar - To Have and To Hold From This Day Forward

by Greg Schnell

The world is married to the $USD as it holds the 'reserve currency' status. I don't know that we say the wedding vows to it, but it is still the main venue when  signs of stress appear. Of course, I would not try to link marriage to stress! That is taking the analogy too far. A few weeks back I mentioned the $USD had positive divergence on many charts. If the $USD starts ripping higher, commodity prices go lower. So, let's do a drill down on the currency pairs today. Here are the components of the Basket. The Euro, The Yen, The Canadian Dollar, The British Pound, The Krona, and the Read More