The Canadian Technician

A Double Take On A Double Double

by Greg Schnell

Tim Hortons (THI, THI.TO) needs no introduction to the Canadian market. The little donut chain that could continues to sell double doubles. Tim Horton's confirmed it was being acquired by Burger King (BKW) this week. Obviously, it must of been discussed in a Canadian Tim Horton's location as the management used the Drive-Thru to blow past resistance. Could it be BKW management was waiting in the drive thru lane for two weeks like the rest of the population? The THI stock started the move August 6th! Some Read More 

The Canadian Technician

The Ice Bucket Challenge And Your Stock Portfolio

by Greg Schnell

One of the best marketing campaigns in years has sprung from the ALS organization. We have all heard about the Ice Bucket Challenge. In July 2014 it was not a search term. By August 25, 2014 it seems the world knows about it. For seasoned through new investors, the chart from Google Trends is an excellent medium to help investors understand stock prices as well. While this looks pretty statistical, I will be brief on it.  We can see the three trends in the bottom left. Ice and bucket were the most common search terms, whereas ALS had 1/10th the searches. The bottom Read More 

The Canadian Technician

Rona (RON.TO) Follows Home Depot and Lowes Higher

by Greg Schnell

Rona (RON.TO) has been working to deal with the competitive power of Home Depot (HD) and Lowe's (LOW) as they have continued their push into the Canadian DIY and contractor markets. I am not quite a platinum member at all three stores, but when the staff call you by name, your not far away. Recently, Rona went on a tear!   Something is a changin' in the stock! The surge looks parabolic, so I would have trouble adding it into my portfolio here, but a pullback might make a nice entry. The weekly says it might be about to pause as well. Read More 

The Canadian Technician

SCTR Becomes Even More Powerful

by Greg Schnell

The SCTR ranking system is by far my most powerful indicator. It got another boost this week and so did the Market Carpets. The SCTR got put on the Market Carpets as one of the drop downs. So what does all that mean? First of all the market carpets are found here as demonstrated in Chart 1. On the home page, go to the golden line (my nickname for it because the links are so valuable!) and click on 'Market Carpets'. Chart 1 Chart 1 That should bring up a magical look at the US Market  like Chart 2 which in this case means Read More 

The Canadian Technician

When Wood Rocks!

by Greg Schnell

Looking at the Largest Percent gainers on the $TSX box on the home page, we see the lumber related stocks start to move constructively today on the housing starts report for July. 5 of the top 10 are lumber related. 4 of the 5 have moved up 10% or more in three days! Is this where we yell All A-Board? Good trading, Greg Schnell, CMT Read More 

The Canadian Technician

Highly Correlated Markets Create An IntraDay Splash!

by Greg Schnell

Back in March, all the high momentum stocks sold off meaningfully and there was a great debate about why on the financial media sites. Let's discuss why the momentum of these stocks becomes more important than the price/earnings at a given point in time.  You may recall the Biotechs going for a huge dive. Notice all of the other high momentum stocks had broken their trend lines in the weeks before.  At the time, AAPL was still unloved until the April earnings breakout. Pandora was still trending higher. Now the two are opposite. Pandora looks Read More 

The Canadian Technician

The Miners Canary Just Fell Over. ($SPTMN) What Now?

by Greg Schnell

No wonder miners gave up on using candles for illumination and went to battery powered helmets. The Canadian Mining Index Chart ($SPTMN) is riddled with technicians signals for illumination based on candles and almost every typical bullish candle pattern has been snuffed out. Looks like a few technicians have been beaten on this chart. It loves to give bullish signals and fail. I recently thought the breakout in July was good to go. Wrong so far. Starting at the top of the chart. The RSI is still below the 60. It recently gave a new high (bullish) at the end of June only to Read More 

The Canadian Technician

Lumber ($LUMBER) Builds A Base

by Greg Schnell

Just when things look desolate for the lumber industry, $LUMBER turns higher. One of the critical points today, is that Lumber ($LUMBER) soars through the neckline of a base. First of all the SPURS are breaking out in Purple at the top. This means the symbol is outperforming the $SPX. $LUMBER snaps a neckline on the chart. Only three days ago, $LUMBER was making lower highs. Finding support above the 50 DMA, surging through the neckline and closing above the 200 DMA is very bullish. The basing pattern built by lumber looks to be intact with the MACD finding support Read More 

The Canadian Technician

Is Air Canada On Final Approach?

by Greg Schnell

Air Canada (AC/B.TO) has been a phenomenal stock for the last 2 years. From July 2012 to July 2014 the stock went from $1 to over $10 for a 1000% gain. I recently covered off the stock in June, but today is a compelling day to look at the stock. First of all, earnings are scheduled for August 7th, 2014 so that will be the next catalyst for the stock.  Today the stock is just barely above a confirming cross down on the MACD. With a significantly lower MACD momentum and the RSI showing divergence as well, this is a very important earnings announcement Read More