The Canadian Technician

Check out the RRG charts for the Canadian Sectors

by Greg Schnell

The RRG Charts are going to be part of Thursday's webinar. The value of these charts is unbelievable. Here is a sample of the Canadian Sectors RRG Chart. The $TSX is the benchmark in the box above the green area of the chart. So it is the average. That means the Energy and Materials have sold off so hard, that they can balance the other 2/3's of the index weighting. The table below the rotational chart shows you the ticker name and the detailed name of the sector. The Utilities are about to accelerate into the positive momentum and positive relative strength so they might be a Read More 

The Canadian Technician

$NATGAS Fails To Stay Above Support

by Greg Schnell

It seems Natural Gas ($NATGAS) is failing. It really needed to hold $3.72. I spoke about it in the webinar but it continues to break down. Investors in the Natural Gas stocks that were looking for a bounce like I was have been disappointed.  We will have to wait for a better signal. Good trading, Greg Schnell, CMT   Read More 

The Canadian Technician

Oil Stocks Bounce..But Wait..There's One More Thing..

by Greg Schnell

The Canadian oil stocks have been traumatized by the recent plunge in crude. If you like to take advantage of deep pullbacks in price, these charts have been severely hit. This was just a screen shot of the most actives from the home page $TSX hot box.  How else can we hunt for great stocks after this pullback? Well, the SCTR is a great place to look. Some of these stocks are already back in the top quartile of Canadian stocks. The last column is the SCTR ranking. Even if you just want to find all the oil and gas producers, you can click Read More 

The Canadian Technician

Is IBM A Big Blue Bubble Or Is Tech In Techno Trouble

by Greg Schnell

Listening to the news is always a bad way to decide what is really going on. However, today offered more. IBM announced earnings that were considered lacklustre. When you miss revenue by a b-b-billion dollars, somebody notices these small changes! So I had seen a comment that SAP missed earlier in the day and then IBM missed and it started to make me ponder. Well, I wasn't exactly going to pull out 30 tech companies earnings reports to see what was going on. A picture is worth a 1000 words so lets go to the technical museum of fine art, the charts. Here is Read More 

The Canadian Technician

Energy Stocks Shoot Up Like Oil From A New Well

by Greg Schnell

The energy stocks have been deeply oversold. I have mentioned them in the webinars and then spoke specifically about Cenovus (CVE.TO) coming down to support. Well, the broader energy sector is also rebounding looking at the Canadian Energy Sector ( $SPTEN) chart. If Investors were trying to buy the dip, this one has been a deep one.  It's like the dip we all want the Chocolate Dipped Ice Cream cone to get at our Ice Cream store. This has been very oversold and the bounce is already back at the 50 DMA. I would expect the sector to try to bounce up Read More 

The Canadian Technician

The Canadian Dollar Sets Sail For Lower Levels $CDW

by Greg Schnell

The Canadian Dollar ($CDW)  is considered a commodity currency. We all know that. Here is a current chart over a 15 year period.  It would also indicate that the price of the Canadian currency leads/tracks/follows crude oil. In some instances like 2007, the currency topped first and the oil topped 6 months later. In 1999 oil bottomed before the currency made a final bottom in early January 2002. That period in 2002 also marked the top of the $USD back then. Chart 1 Lets look at the performance of the Canadian currency with other commodity Read More 

The Canadian Technician

Cenovus Returns To The Bottom Of The Reservoir - Webinar Information for 20141009

by Greg Schnell

Cenovus (CVE.TO) has been a hard stock for shareholders. The company continues to show so much promise, but the price just keeps getting pushed back down. Everything on this chart says down. The horizontal support line says interesting. The price of crude says to be wary of anything spooky and black in October 2014. But this $27.50 level has been a solid support zone for 4 years. This is definitely a chart to watch, with a corner of the eye watching crude oil as well. A bounce here will be a brilliant, solid entry. A failure to bounce here puts the all time lows in play. Read More 

The Canadian Technician

StockCharts.com Adds A Wide Complement Of Major Currency Pairs

by Greg Schnell

In July, one of the biggest currency moves started and dominated inter-market relationships. When the $USD broke out, a lot of major changes happened in the market. As an example, all of the commodities have been crushed and have broken through major long term trend lines. Well, today, StockCharts.com will be carrying many of the major currency pairs. This will be very important in helping us assess changing market conditions. Here is a list of the new pairs. For equity traders around the world, this is a new tool for being Read More 

The Canadian Technician

$NIKK Tries To Hold Breakout - Replay Link for Thursday's Webinar

by Greg Schnell

I have been very interested to watch the Japanese Equity Market ($NIKK) to see if it can hold the breakout from the 25 year trend line. First of all, here is a long chart. Why does this matter? When a long trend line breaks it is usually very important. Lets zoom in on the last year. If this breakout fails, it usually will be a meaningful plunge down instead. We can see it closed back at the trend line on Friday. If the $NIKK can break out it will be powerful. The fact that the Yen closed near the lows but was an outside day is interesting. If the Yen Read More