The Canadian Technician

Canadian Sectors In CandleGlance View Now Available

by Greg Schnell

At the Toronto meeting, we launched the new CandleGlance view for the Canadian Sectors. Here is how to find the link. From there, look at the CandleGlance Tab. Currently in the second primary column. When you click on this link, Here is what you will see. So from here you can get a snapshot of how each sector is doing in two month view. To change the time period, use the drop down box behind the first blue arrow.  To add one indicator, use the drop down Read More 

The Canadian Technician

Performance Charts For Canadian Sectors Are Ready To Click!

by Greg Schnell

First of all, Thanks to everyone who chose to attend the Toronto SCU101 and SCU102 courses on the weekend. We had a fun time presenting and I know many of the attendees were surprised by some of the hidden gems that were hiding in the website. We had new attendees through 12 year members and while each learned a lot, some long time attendees were surprised at how many new developments have been built into the website that they were unaware of. Let me point out  one link  that was installed this weekend specifically for Canadian sectors. If you click on Read More 

The Canadian Technician

Canadian Industrials Chart Builds A Weak Pattern

by Greg Schnell

The S&P index for the Canadian Industrials is $SPTIN.There are a few concerning things on the chart that investors should be aware of. The RSI is making lower highs. The Relative strength (SPURS) is weakening on each peak. This is shown in purple in the area chart or behind price. Making higher highs, while the relative strength drops is concerning. I'll show  the Telecom Services example so one can see why further down. As well, we have a Head/Shoulders top building with a weaker MACD on every rise. This is very concerning. The volume on the May high plummeted and we Read More 

The Canadian Technician

The Best Information Charts Are Not Like The Others - Today It Is $IRX

by Greg Schnell

I want to bring the $IRX chart up today. When working through chartlists, the charts that show you something out of sync is usually more valuable.  As an example, when the Municipal Bond $MYI chart broke back in March, just before the yields soared on everything else, something was amiss.  The chart perplexing me lately is my worry wall chart. The $IRX weekly. On this chart, I try to write down major events. I don't think the 3 month T-Bill went to almost zero yesterday on Kate and Williams news of a baby boy. So while this chart in condensed view isn't very helpful, I Read More 

The Canadian Technician

The $TSX - In Trouble or TIme To Rock?

by Greg Schnell

I recently listened in on Guy Adami. He made a great comment. "We are not staying here." He stated  the market is either going quickly higher or quickly lower. I think a lot of technicians feel that way. Let's zoom in on the $TSX. Let's start at the top. The RSI appears to be stuck in a bear market. Oscillating between 30 - 65 is bearish. If you look at the $SPX you will see it gets support at 40 and continues above 70. So this is bearish. The RSI usually needs to test the 40 level before going on to the 70's. But it doesn't have to. The bottom line is we are at a Read More 

The Canadian Technician

$NATGAS Tests Some Very Interesting Levels

by Greg Schnell

While I was flipping through the charts this weekend, I couldn't help but notice there were so many interesting charts to share. As examples, the $FTSE did a perfect backtest on its breakout, $Lumber is climbing above 4 weeks highs but still below the 200DMA, $Copper has a double bottom, $Gold finally made a higher weekly level to name just a few. But lets focus on $NATGAS to continue our Energy theme with the Frackers, Drillers and Senior Production companies from the last blogs. Here is the $NATGAS chart and why I think it is so interesting right here. After $NATGAS Read More 

The Canadian Technician

The Large Cap Oil Producers Dashboard Looks Good

by Greg Schnell

Well, the frothy move in crude is finally perking up some of the Canadian Energy large cap companies. Lets start at the top.  Crude has clearly broken out in a moonshot. This would appear to be caused by stops being hit and investors forced to buy as the price moves against their short position. Resistance  at $109 is the next hurdle. $WTIC has broken out of the massive 5  year pennant (not shown) . This break to the upside has to be respected. It is very important. The horizontal resistance at $109 and above that at $114 will be considerable to overcome Read More 

The Canadian Technician

The Drillbit Dashboard

by Greg Schnell

With oil sitting nicely above $100, the drillers are entering the strong season. The five drillers listed are a good sample of the Canadian Drillers. All are above their 50 DMA. We can see Precision has been tracking between $8-$10, Ensign between $16- $17 and Trinidad pushed above the $7.50 level in June. Extreme Coil and Akita have been rising nicely for all of 2013. Akita is well above the $11.50 ceiling it had and Xtreme based below $2 and has now set the stage to keep rising.  The sector looks great here. I don't have a strong reason for oil to Read More 

The Canadian Technician

Get Cracking - Reservoirs That Is - Black Gold

by Greg Schnell

Happy Independence Day to our American colleagues. Driving through the Alberta foothills the other night and came across this Trican fracing job(should be spelt without the 'k'). The engines were quiet so we were not at the high pressure moment! You can see it takes a lot of specialized equipment to do a frac.     Extremely heavy equipment, usually muddy leases, and a remote, unique environment make this a very challenging operation.  Trican is one of Canada's Read More 

The Canadian Technician

2013 Mid Year Review Of Global Markets.

by Greg Schnell

The month of June was a give back month. During the month, most world markets pulled back but settled well off their lows. The two long charts below lay out why I think the global situation could be the major clues to the North American market levels in the fall. To set the stage, here is a list of the major markets I follow. I like to keep track of what is above the 20 month moving average. Why the 20 month? When I went back and looked at the global picture from 2000 - 2013, they all jumped above the 20 month MA together to start a new bull market and stayed above. We had that condition Read More