The Canadian Technician

Investors Restart Nuclear Testing

by Greg Schnell

While perusing the ticker cloud on the homepage, I noticed Cameco sitting there. Here is a chart of Cameco. Cameco is one of the worlds largest Uranium miners. Between the stock market recession, the fallout from Fukushima and the unloved status of commodities this industry has struggled. Cameco has been a range bound stock. Cameco has been working to try and break out of the range it has been stuck in for over year.  One of the interesting developments is the Full sto's have made new highs even though the price action is still range bound. That is a bullish sign. Read More 

The Canadian Technician

Blackberry -Harvest Time or Sowing Seeds of Spring Time?

by Greg Schnell

Here is the recent view of BBRY. This chart will probably gap either way, but the earnings announcement will be on June 28th. It may gap before the earnings. I would suggest that price action in the low 12's will be a signal that this company goes the way of former greats in the cell phone industry, whereas a break above 17 bodes well.  The pattern suggests indecision on the direction of Blackberry and the dotted line is a more symmetrical pennant but the last touch of the blue solid line made me draw the solid line there. By next week, we may find the blue Read More 

The Canadian Technician

The Global Markets Firm Up Above The 20 Month MA.

by Greg Schnell

While commodities still seem nestled in the doldrums, recently a few have started to move higher. But more importantly, the global stock indices are making moves to higher ground looking like a global sustainable bull market is more likely. At one mid month view in April near the US lows, their were 7 global markets back under the 20 Month MA. Currently, only 2 are. What is more important is that a lot of commodities track the $SSEC (Shanghai) market. The $SSEC has now started to push higher again. This gives me more faith that a bull market is starting up. As well, the $DAX Read More 

The Canadian Technician

A Timely Look At The Miners

by Greg Schnell

I can't help wonder if the miners will finally get a bid here. Gold has started some major rallies in May before. Currently it just feels so unloved, especially with the US dollar soaring higher every day. I see no reason to jump on a bull trade in $Gold which is a great reason to be aware!  Maybe if it tests the April low and can make a double bottom bounce? It seems a stretch at best. Here are the major global miners. You can see the trend in the miners has followed the $SSEC pretty close.  I also put CAT on this chart as it recently shot up $10 a share Read More 

The Canadian Technician

Energy Markets React to $USD Strength

by Greg Schnell

This is the picture of how the energy markets have performed over the last 6 days. You will notice the date in the top left corner. This chart included the Monday May 13th close. The $USD recently went on a tear over the last few days.   Look at the same chart with a date almost a week ago. This was as of May 8. These markets moved significantly when the $USD currency pairs broke out on the charts. I do not see a linkage between the Solar ETF and the Read More 

The Canadian Technician

Currencies - Wild Volatility In More Than The Yen

by Greg Schnell

This chart of the currencies that make up the $USD has been shown before. I have not reset the trendlines since publishing the chart in April. But look what is happening relative to the trendlines. You can see the Yen lost support at 100 where it had rallied from multiple times in April. That level has been lost. We'll see if it regains its momentum. The British Pound continues to gap above and below the 154 level. Today its back below. This chart will be interesting to watch at the green trendline. Will it get support or fall through it? You can also see on the far left the Read More 

The Canadian Technician

Crude and the Russell Correlation

by Greg Schnell

Crude has been leading the Russell lately. This high correlation is very important if crude starts to let go. Good Trading, Greg Schnell, CMT Read More