The Canadian Technician

Percent Of Stocks Above The 50 DMA

by Greg Schnell

This is one of my favorite charts to help diagnose the market. Currently it is in a spot where we should be looking for going long. But it can stay this way for weeks. Here is the chart. So lets start at the top. The RSI for the $TSX is oversold... Read More 

The Canadian Technician

Utilities Starting To Outperform?

by Greg Schnell

I was breezing through the charts last night and I noticed this subtle change on the Utilities. We'll be watching to see if it amounts to anything. There is positive deviation on the RSI and MACD but most importantly, the Red area above is starting to make higher highs... Read More 

The Canadian Technician

The Loonie Loses Long Term Luster

by Greg Schnell

The currencies continue to tell the story. This is a meaningful breakdown now... Read More 

The Canadian Technician

The $TSX Tests The Head Shoulders Neck Line... Again...

by Greg Schnell

If you have been following the Gold trade we talked about on the blog, We'll see if Gold finds its bottom today. Looks like a flush. Significant downward momentum. Not sure if it can bottom today after such a steep drop. But lets focus on the wider picture... Read More 

The Canadian Technician

Golden Day - Did You Know?

by Greg Schnell

Heads Up...Golden Day is almost here. I have marked the charts up with red arrows since the 2011 top. You will notice that whatever brief trend gold is in, it seems to pivot on or near the 20th calendar day of the month... Read More 

The Canadian Technician

$COPPER Takes An Interesting Ride

by Greg Schnell

Recently Copper and the $USD have started to correlate with each other. While this can and does happen occasionally, it is important to be aware of trend changes. When the $USD went on the big surge from Feb 1 to April 1, Copper did as most would expect. The price of Copper fell... Read More 

The Canadian Technician

Agrium Kisses A Neckline. Summer Love or Summer Storm?

by Greg Schnell

The $TSX is giving us some very interesting charts to view. AGU.TO is resting on...I mean testing support. We can see a drawn out Head and Shoulders top for Agrium. The RSI needs to hold here. The 40 WMA has turned flat at best. The MACD is still spread bearish and moving lower... Read More 

The Canadian Technician

Bombardier Follows Boeing Higher

by Greg Schnell

The business of Aviation is looking up. With airlines tightening capacity and still forecasting huge growth, the new lines of jets are pushing optimism higher. Bombardier has launched some great new planes and they seem to be garnering sales... Read More 

The Canadian Technician

What's That Ticker I See Top Right, eh?

by Greg Schnell

Just clicking on the homepage and noticed another tweak for the $TSX market watchers. This is just a handy way to get a quick snapshot of todays action. Click on the $TSX tab on the top or click on the line and up pops a chart of the $TSX... Read More 

The Canadian Technician

Was The Porridge Just Right?

by Greg Schnell

On Friday, Art Cashin was commenting about the jobs report and said it was not too hot and not too cold. Just Right!!! The world loves Art Cashin and I do too. The problem as I see it is there are still bears in your kitchen eating your porridge... Read More 

The Canadian Technician

Some Ideas around Gold (Part 5)

by Greg Schnell

So, Gold tumbled hard. Even before the news. Well, it is part of trading Gold, living with sharp moves either way. I wanted to present a new feature that showed up at Stockcharts University 102 class on Saturday in Seattle... Read More 

The Canadian Technician

Some Ideas Around Gold (Part 4)

by Greg Schnell

Point and figure charts are really interesting charts. When they oscillate between a channel or a given range, no new signal is created. In order for a PnF chart to create a buy signal, it has to mke a higher high. It will not kick to a sell signal until it makes a lower low... Read More 

The Canadian Technician

The Oil Show Comes To Cowtown - Whats Hot

by Greg Schnell

Glancing through the TSX big mover up on the homepage today and noticed this strange coincidence. Calfrac (CFW.TO) is breaking through 3 month resistance on a huge down day in the market. AirBoss (BOS.TO) is breaking through 5 month resistance... Read More 

The Canadian Technician

Some Ideas Around Gold (Part 3)

by Greg Schnell

Trading bottoms in volatile commodities is fraught with risk. Controlling that risk is key to successfully finding bottoms the mature into new uptrends. This is Part 3 of a series of blogs on Gold and related trades... Read More 

The Canadian Technician

Some Ideas Around Gold (Part 2)

by Greg Schnell

First of all, trying to trade bottoms in volatile commodities is filled with risk. Managing this risk is important. I wrote the Part 1 blog yesterday that can be found in the Canadian Technician section under the blogs tab... Read More 

The Canadian Technician

Some Ideas Around Gold - Part 1

by Greg Schnell

Let me make one thing clear. Trading bottoms in volatile commodities is risky. I will focus a few blogs this week on Gold and related trades. When I am speaking of levels on the chart, they are ranges so when I indicate 27, it is close to there. It might be 27.5 or 26... Read More