The Canadian Technician

Checking The Detail in Retail

by Greg Schnell

Some Canadian Retail stocks recently hit turbo mode! Photo courtesy of Autoblog.com Here are the charts of three interesting Retailers that might have you driving one of these. Canadian Tire recently bought the Forzani Group including SportCheck. Here is Hudson Bay Company. They recently acquired Sak's Fifth Avenue. Here is Dollarama. Not all the reatilers look this hot. Here is Reitmans. There are many reasons technically Read More 

The Canadian Technician

SCTR - Creating Our Top 25% List - Chapter 5

by Greg Schnell

In the Chapter 4 article, we were setting up new chartlists. If you are following along, it would be good to have completed that step before setting this step up. Now we get to create scans to fill the chartlists. In order to create custom scans, you need to have a membership level that enables this tool. On the top right of your stockcharts page, up beside your login id, is the -your account - link. If you click on there, you can see what your account level is. As you can see, you need to have  an 'extra' level or above. Go back to the members tab/ page. Scroll down to just above Read More 

The Canadian Technician

SCTR - Building and Managing Watchlists - Chapter 4

by Greg Schnell

In our first article we discussed an overview of the SCTR. In the second article, the focus was placed on the different concepts in relative strength. We covered off how the SCTR is calculated and how to plot it. In the third posting, we covered off the different aspects of the SCTR. Trading it from a long low base, what happens in the middle of the range and where the SCTR can become very interesting for investment timing. In this article, the assembly of watchlists is important for managing the scans that we will use to find interesting timing on strong stocks. So let's Read More 

The Canadian Technician

Royal Dutch Shell - An Interesting Chart

by Greg Schnell

Recently, a number of analysts have been on the investing shows praising the move into European Equities. In full disclosure, a family member works for Royal Dutch Shell. This stock chart is just so interesting I thought I would put it out there for discussion. This chart is just so classic for discussing support and resistance, I felt it was a compelling chart to display. Over the last year, Shell has found support within a  $0.12 range. If you look closely back in April 2012, you'll see two lows near the same levels at $61.66 and $61.55. When Shell broke down, it gapped Read More 

The Canadian Technician

SCTR - Finding The Sweet Spot - Chapter 3

by Greg Schnell

In this chapter about the SCTR, I want to discuss how one might use the SCTR to find sweet spots. There are multiple styles that investors can use. I will show three, then focus on one.  Just a brief recap so everyone is on the same page. When a stock moves above an SCTR of 51 it is behaving better (technically speaking) than 50% of the stocks within the group. So an SP500 stock with an SCTR of 51% is just above average. A stock with an SCTR above 75% is better than 75% of the stocks in the SP500. If we move to the ETF's , the same rule of measurement applies but it is only better Read More 

The Canadian Technician

SCTR - A Different Relative Strength - Chapter 2

by Greg Schnell

This article continues our discussion of the SCTR. Call it Chapter 2 A few general investing principles are required here. With the availablility of ETF's, you can find investments that have less risk than single stock investing. You still need to find a method of outperforming the broad market index like the $TSX in order to do better than the market. If you are not investing in stocks or ETF's that are outperforming the market, it is difficult to do better than the index. So we commonly refer to an expression of relative strength. One definition of this type of relative strength Read More 

The Canadian Technician

SCTR - Have You Discovered The SCTR? The Introduction.

by Greg Schnell

I expect to change some the blog content over the next while to be part of a series. I will be working through a complete process using the SCTR from the StockCharts website to help use the power within. My examples will be for the $TSX, but the system will be for every market, not just Toronto. There are multiple ways to look at the market. The more I use the SCTR rankings, the better the quality of trades that are coming to the fore. Here is a screen shot of the top Canadian stocks by  StockCharts Technical Rank. (SCTR). You can see it is a mixed bag in terms of sector Read More 

The Canadian Technician

Happy Thanksgiving - The $SPTEN Makes New Highs

by Greg Schnell

Rolling through the charts is always a pleasant way to spend some time on a quiet market Monday. The $TSX is closed for Thanksgiving Day in Canada. A nice little move took place last week to close out the volatile week. While the US had a long pullback sparked with accelerated buying going into the weekend, the Canadian market moved more sideways than down and was close to breaking out through the 2 year resistance level. The Energy sector is a key market, and the $SPTEN made a nice push to finish Friday at a new high. The RSI has been stuck in a bear market trend for the last Read More 

The Canadian Technician

The Railways Leave The Station - All Aboard!

by Greg Schnell

Yesterday, on a big selloff day, the railways had some serious volume as they broke out to the upside. Here is CNR.TO Notice the nice big green candle on yesterdays volume. You can also see the purple shaded area at the top behind the RSI has taken off the the upside. This is the SPURS. or $SPX Relative Strength. The RSI is very solid up near 70. The breakout in price is making 52 week highs. The MACD has broken the downtrend. The SCTR jumped above 80. This is a pivotal level on the SCTR where we usually see the start of major price moves. Lets look at CP.TO Read More 

The Canadian Technician

Things That Go Bump In The Night

by Greg Schnell

In this global economy, we are constantly made aware of issues happening around the world. With all the discussion of the US situation currently, there has been less discussion on how the rest of the world is doing. I found a Japanese chart that is a little worrisome. The $NIKK seems to have bumped its head on resistance. Since I blogged about the international charts breaking above resistance, we have seen global markets pullback in concert with the USA. A couple of markets are more worrying. Japan is one of them. Below is the $NIKK.   Read More