The Canadian Technician

November 2013

The Canadian Technician

One Ringy Dingy, Two Ringy Dingy, Three Ringy Dingy

by Greg Schnell

Those of us that are old enough to know the One Ringy Dingy story with Lilly Tomlin calling might just get a chuckle out of the youtube replay. I put the link here to make sure you don't miss out on some laughter. One Ringy Dingy After Rogers announced the accumulation of all the Canadian broadcast rights to the NHL for 12 years, I poked my nose in on the stock again today. Woot Woot, a nice little breakout. Checking on Vancouver's own Telus shows us a similar story. Telus popped Read More 

The Canadian Technician

$NATGAS Closes At 5 Month Highs

by Greg Schnell

Natural Gas continues to find a lone direction. With oil having trouble finding support here at $92.50, $NATGAS is making 5 month highs. The discrepancy between oil and gas is still huge, but this push on Natural Gas is interesting.  Check out this seasonality chart on $NATGAS. By the way, this is available on the Free Charts tab. Look for the seasonality area at the bottom. Let's compare the results to this year since July.  July down hard, August and November soared, and Sept Read More 

The Canadian Technician

SCTR - Scanning For Strong Stocks On An SCTR Pull Back - Chapter 9

by Greg Schnell

Next we'll cover off the simple scan of looking for symbols with an SCTR between 60-65 within our strong group. Remember, in order to be considered for this scan, the symbol  had to be better than 75% at one time to get into the group. Now we are looking at them as they show a little weakness. This is the best way to control that we are not finding stocks that are just middle of the pack stocks.   So this is a relatively simple scan. We want to find the stocks within our 6020 chartlist that at one time were in the top quartile stocks. Now they have pulled back compared to the Read More 

The Canadian Technician

Its Just A Coincidence In Fibonacci Targets? - I SPY 1960

by Greg Schnell

Well this market has been in Eveready bunny going higher and higher while technicians continue to call the top that hasn't arrived. I have been guilty of that as well. Huge blog. Summary: We have the current blue Fibonacci lines on the right. If I place the 50% level on the 2011 highs, the 61.8% level is right on the 2012 highs and the 38.2 % level is on the 2010 highs. All pretty important levels on the charts! If I use the extensions, the 23.6% level marked the 2010 low. Where does the 100% level come out? 196.00 which just happens to be the same as the orange Fib extensions at 161.8% Read More 

The Canadian Technician

Metals, Miners, Materials, Messages - Hummmmm

by Greg Schnell

The materials markets are behaving very oddly here. Oil, Gold, and Copper are all below the 200 DMA. Teck Resources, First Quantum Minerals,  and HudBay Minerals are all below their 200 DMA. But Westshore Terminals has been on a nice move up, Capstone (copper miner) has launched, and Australia just announced record exports of Iron Ore. US stocks have been vertical with FCX and X both moving well north of the 200 DMA. The 4 year  $CRB chart has had a massive head/shoulders top formation and we lost the trendline support 2 weeks ago. It is this odd divergence that Read More 

The Canadian Technician

SCTR - Finding Stocks In The Passing Lane - Chapter 7

by Greg Schnell

The first scan we created found stocks that are in the top 25% list technically. The second scan focused in on stocks just entering the top 25% list. This scan will look for stocks that have momentum relative to the broad group. I would equate this to a 2 lane highway analogy. Image courtesy of signalimages.ca Almost all the cars are moving at pretty much the same speed, and then suddenly, one car puts on the left signal, pulls out and passes 10 cars in a row.  "Where's the fire?". In the stock world, we want to find these stocks that are breaking away from the Read More 

The Canadian Technician

SCTR Mystery

by Greg Schnell

I was rolling through some charts today and thought I would throw this one on the blog as a mystery.The top box is the SCTR, the bottom is the price. This stock was stuck in a range. It was dead money for months. It made a breakout above resistance in late December to $76.50, but the SCTR stayed in a downtrend. The week of February 2013, it broke out to new highs again. The difference? It moved into the top 25% technically the same week. The follow through was huge. So scanning for the 52 week high was valuable, but it was much more valuable when it started to gain strength Read More 

The Canadian Technician

SCTR - Scanning For Strong Stocks Pulling Back - Chapter 8

by Greg Schnell

So now we keep finding these strong stocks. That is fun. However, one of the common emails I have received is that these stocks are too extended to buy. So this chapter will look for the pullbacks on the strong stocks. Let's get started. Go to the members tab, scroll down to the Scan section and click on create a new scan.  I will leave all the instruction on how to insert the title and the comments out of this article. We are going to focus on the lines of code.  I want to point out another great resource on the StockCharts website. The public chartlist area has a huge amount Read More 

The Canadian Technician

SCTR - Looking For The Sudden Surge - Chapter 6

by Greg Schnell

Over the last few articles, we set up chartlists and completed our first scan. It takes a while to write this out, hopefully with enough clarity, to enable you to set up your account with this process. So the stocks in 6020 SCTR Top 25% are within the SCTR scale between 75- 100 on the day we put them in the group. Each day, stocks in this list will move around. Some will move up farther into the extreme. Once they are way up there, it is usually too late for a timely entry. Some may have run for a while in this group and need a rest.Some will have dropped in their ranking below 75. If we Read More 

The Canadian Technician

Currencies Ring My Pessimism Bell

by Greg Schnell

While writing my SCTR series of blogs this week, I was sidetracked by the changes in the market. I have thoroughly enjoyed watching the $TSX breakout and make a meaningful move to new 2 year highs. While I scrolled through my all encompassing market 'summary' chartlist,  some major red flags started waving. There was a massive underlying change in the markets this week. Let me roll through these charts, because they contradict my views on a bullish global breakout. The goal of Intermarket analysis is to see changes sooner than might otherwise be obvious. John Murphy's work  is Read More