The Canadian Technician

Are Uranium Stocks Finding Support Or Going Under Water?

by Greg Schnell

Canada has a few  uranium players.Cameco, Fission and Denison are good representatives of the industry. The nuclear industry always portrays a blue sky friendly industry. When it goes wrong, it seems to go real wrong. That would certainly be true for our Canadian Uranium stocks. The 800 pound gorilla Cameco reported earnings today. They were able to make rain on a sunny day.  Investors keep looking for bottoms and the charts keep creating tops. A bit like a lake being a mirror. While the future looks bright for the industry long term, the uranium miners Read More 

The Canadian Technician

The Eye On The Market Radio Show

by Greg Schnell

I recently did a radio show with David England. This is called the Eye Of The Market. If you are interested, you can listen here. It was broadcast Saturday April 19th, 2014 Eye On The Market Good trading, Greg Schnell, CMT Read More 

The Canadian Technician

The $TSX - The New Market Leader

by Greg Schnell

The $TSX is taking over leadership here. While I couldn’t be more bullish on the energy sector here, I can’t help but stare at the $TSX and wonder if the former highs will be resistance. Here is the weekly long term view. Chart 2 is the daily view. We had a nice bull candle breakout to a new high to close out the week. Watch closely to see if it holds. We closed at 14500. 14646 was resistance in 2007 and 15154 was the top in 2008. If the US market does roll over and pull back hard, I would expect the Canadian market to pull back as well. The recent euphoria on a weekly chart Read More 

The Canadian Technician

Defensive Industries Break Out

by Greg Schnell

The Canadian $TSX may still look bullish, but that is not where the money is flowing too, it shows where the money has been.  Two charts this week show breakouts. REITs and Utilities.  The chart above shows the Relative strength of the Canadian Utilities compared to the $SPX.  You can see an uptrend since March, but the breakout happened last week on this weekly chart. We can see the  200 DMA being broken and starting an uptrend. This is very bullish utilities. Here is the REIT ETF. Read More 

The Canadian Technician

$TSX Canadian Sector Outperformance: A Debate

by Greg Schnell

I received some mail the other day asking about the use of the $SPX on a performance chart rather than comparing to the $TSX for the Canadian Exchange Sectors. While the $SPX is a giant collection of varied undustry groups and sectors, the $TSX is heavily weighted to the Energy and Financial sectors. Here are two charts. The top one is comparing the Canadian sectors to the $TSX and the second compares to the $SPX. Note the shaded box in the top left hand corner. Also, if you click on the charts, you'll need to click the histogram button bottom left to change it from a squiggly line Read More 

The Canadian Technician

$TSX Sector Picture Changes Rapidly In The Last Month.

by Greg Schnell

The sectors have rotated rapidly in March.  This is the current view of a one month performance chart. Here was the scene just 2 weeks ago (notice the date in the top left) on a one month chart. Cyclicals shown in dark blue have dropped a couple of percent (compare the lower to the upper chart). Information Tech has fallen hard. The metals have dramatically improved, even though they are still negative. Energy has rocketed higher.  Utilities continue to climb.  Look Read More