The Canadian Technician

Bears For Breakfast - When The Bulls Run

by Greg Schnell

One of the greatest feats of technical analysis is not its simple execution of reading a single chart. That is the basic building block. The real beauty of Technical Analysis is reading hundreds of charts and building a story that meshes together across them... Read More 

The Canadian Technician

A 60 Minute View Of The Different Averages

by Greg Schnell

Sometimes, the market can mask internal weakness and all of a sudden it lets go. Today, the charts are are at an interesting location relative to themselves and the others. First of all, here is the chart... Read More 

The Canadian Technician

One Of My Fear Gauges Continues To Show More Pain

by Greg Schnell

This is the chart of three month T-Bills. When investors are looking for short term safety, they go here. As they buy, it pushes the yield down. You can see .5 has been an interesting level. This week we have moved below it in almost a straight line down for the past 8 weeks... Read More 

The Canadian Technician

Currency Charts Are Falling Into Alignment For A Big Move

by Greg Schnell

There is a remarkable amount of confluence on the currency charts right now. To a new investor, there might not be much there. But for technical pattern traders, this is literally lining up to be a blockbuster May. I want to show a pair of charts I showed once before... Read More 

The Canadian Technician

Commodities Shaken Not Stirred. Any Olives? Olive Branches?

by Greg Schnell

I think even James Bond might have been rattled by the moves in commodities today. Margin calls rolled across Silver and Gold. Natgas , Silver and Gold all had changes in margin requirements announced by the CME. Copper made new one year lows, but closed above the level... Read More 

The Canadian Technician

Dr. COPPER - A Really Big Deal Today

by Greg Schnell

$Copper charts are updated on an EOD basis. EOD means End Of Day in the chart title. The live trading of Copper this morning is $3.23 That line is very important on the long term chart for copper. So Copper is testing last years lows at $3.24 this morning... Read More 

The Canadian Technician

$WTIC Breaks Support, $TSX Teeters On The Trendline

by Greg Schnell

Commodities blow out. I realize Gold breaking the bottom of the triangle is the big news of the day. As that is pretty obvious, I wanted to review oil as it just blew up on the PnF chart as well. This is the Oil chart which updates EOD. You can see the $81... Read More 

The Canadian Technician

Blackberry Drops The Line

by Greg Schnell

Life is tough as a phone maker these days. The smart phone market is very competitive. The world is watching to see if they can survive. This trendline was reistance in September /October and became support since. This looks like a Head / Shoulders topping pattern to me... Read More 

The Canadian Technician

Toronto Touches Two Key Triggers

by Greg Schnell

Well, the $TSX found a place to bounce from today. What I like about this is we have a pattern called a backtest. It breaks out, pulls back to the neckline (usually horizontal but a downward slope works), and bounces from there... Read More 

The Canadian Technician

Checking The Heartbeat Of Europe - The Cappuccino Review

by Greg Schnell

After topping my coffee this morning, I started reviewing some charts. Some interesting charts in Europe needed more review. Lets work through them today. As an aside, one of my favorite paraphrases comes from Jim Cramer about the European markets... Read More 

The Canadian Technician

The Oil Price Springs A Leak

by Greg Schnell

$WTIC Crude bounced off the top trendline and is headed into a seasonal weakness. We will be looking for support at $92.50 and $91.00. What happens at those levels will be very important. You can see that $BRENT has made a substantially lower high... Read More 

The Canadian Technician

There's Trouble in Toronto - Blown Away...

by Greg Schnell

Wow - the Canadian market spoke today. Down 260. We have been watching a sideways pattern for 3 months. Today wiped out the gains YTD and the $TSX moved into negative territory. A couple of more significant events were confirmed today as well... Read More 

The Canadian Technician

When Safety Goes Ballistic

by Greg Schnell

Some of the charts lately have gone seemingly parabolic. The surprising thing is what sectors are going ballistic. Usually these are the slow and steady. This is the action since mid February. 30 trading days... Read More