The Canadian Technician

Would You Be Ready For A Bull Move?

by Greg Schnell

What an interesting chart. Most of the major global stock markets are up against some form of resistance. Here, in commodityville, we see the same! This is where the rubber meets the road. If the global market upturn is to commence in a big way, it will be with the commodities breaking out.  Livestock is testing resistance to break out to 52 week highs! Looking through the copper and Industrial metals, they are testing their respective resistance lines. Oil is at a major support / resistance line stay tuned. Gold is stuck between the Read More 

The Canadian Technician

Mullen Trucklines Starts Rolling

by Greg Schnell

The Dow and Transports have confirmed the new highs  to validate Dow Theory. In a small town south of Calgary is a monster size trucking company called Mullen. While the Canadian market has been in a trading range for  2 years (Polite way of saying down to sideways!), Mullen has been continuing to deliver. Mullen closed the week out at 52 week highs, and closed above the weekly highs of 2006. It is so interesting that a company of Mullen's size topped out in 2006 when the stock market made final highs a year later. 7 years later, Mullen finally gets to take a run at the highs Read More 

The Canadian Technician

Webinar Link Available Here How To Analyze $SPX Wedges!

by Greg Schnell

Hi Everyone, Here is the link for the Wednesday january 23rd Webinar. Webinar I covered off all of the major wedges in the $SPX. I think this will help most people with what history has shown about major 2 year wedges and how you may want to trade around the prcie action relative to the wedge. I received a lot of posts for people who saw the webinar and found it very enlightening.  Let me know what was valuable for you! Good Trading, Greg Schnell, CMT Read More 

The Canadian Technician

A Review Of Apple's Topping Pattern - A Must Read

by Greg Schnell

This blog today is discussing the value of reviewing past patterns. That is also what the Webinar yesterday was about. Past patterns. Here is the webinar link. This blog today is not to beat up on the holders of a given stock. This blog is discussing how to learn about 'when to sell your big winners'. Apple just happens to be a great example and timely as its fresh.  It was a long time back on October 08, 2012 when we talked about The Apple Starts to Soften. I got some of the meanest responses to a blog when I wrote that one.  I was reminded by a friend Read More 

The Canadian Technician

Webinar Link

by Greg Schnell

Hi Everyone, Apparently a few had webinar trouble! I will post a link to the webinar for you later today or tomorrow. (As soon as I can.) Thanks for your feedback. Unfortunately, I was busy getting setup and had stopped checking mail. Regards, Greg   Read More 

The Canadian Technician

Free Webinar By The Canadian Technician Today! Wednesday!

by Greg Schnell

I will be doing a webinar Wednesday January 23rd that is free for all Stockcharts users. I will cover off a few things that should be of interest to all regardless of your home country as it will be broadcast globally. Date: Wednesday January 23rd, 2013 Time: 12 Noon EST Location: Click here to link in The link may not work until one hour before. Hope you enjoy the Big Picture Review ! Feel free to email me on this blog link after the webinar if you have any further questions. Good Trading, Greg Schnell  CMT   Read More 

The Canadian Technician

The Canadian Energy Sector Tries To Turn Up

by Greg Schnell

The Canadian Energy sector is still a mixed bag. That acceleration from Mid November is hardly exciting.  The markets are very interesting here. The Energy sector above broke down almost 2 full years ago and this trendline is still holding. Hopefully this week will tell us whats going to happen. Be ready both directions.   The market by my indicators is flashing all kinds of overbought signals and needs a rest.  Globally, the trend has been great. Almost Read More 

The Canadian Technician

$COPPER - Worthy Of A Penny For Our Thoughts

by Greg Schnell

Here goes $COPPER                Yeah,well,  the question is which way? Twice last year I wrote that $COPPER was quiet and not much was going on, only to have $COPPER immediately break to the upside right after my article. In both articles! Well, here we sit with $COPPER testing the trendline. The price action late last week was not encouraging and we have a little negative divergence on the daily. You can see when copper fails at the Read More 

The Canadian Technician

Is Another Currency Shakeout Imminent?

by Greg Schnell

Here is a chart of the Euro. Will the trend line hold? Lets work through the chart.   1) Up at the top is the Correlation. For the most part, the Euro and the SPX are positively correlated. 2) You can see that the break in the Euro in Early 2011 ended up falling hard. The major fall actually happened first on the $SPX and the Euro followed.  I am a little concerned that the $SPX setup in red  is similar to the 2011 top. Notice how the price action moved Read More 

The Canadian Technician

Is There A Fly In The Shanghai Ointment?

by Greg Schnell

Globally, the one market that just could not get a bounce in most of 2012 was the $SSEC or the Shanghai market. It built a not so beautiful top left to bottom right chart pattern. Well, the new look is here. It has a smile from top left to bottom middle to top right. That's a little less gloomy. This chart gets updated later today. It will print a level of 2286. That is only 25 points or 1% below the 20 Month MA which is at 2310. Will the spike continue? Probably not in a straight vertical Read More 

The Canadian Technician

$TSX Shows Bull Market Clues, Have A Closer Look!

by Greg Schnell

Happy New Year! The $TSX has finally made a higher high!  Let's start off the year reviewing what we have seen and want to see.  A few things on this chart look different so follow along to discuss why it might be different this time. First of all, as denoted by the orange arrows, we have tried to make higher highs before in the Spring of 2012. The problem was that the price action reversed, turning down and getting another 10% pullback from 12788 to 11209. That was coming off a Read More