The Canadian Technician

The $SPX Chart Indicators That Suggest Rough Times Ahead

by Greg Schnell

Coming back from the Market Technicians Association conference in NYC with a rampant number of things to review. Truly a fabulous event with so many technicians in the room. Let's just say the conversation is a little more technical than most. However, the chart that came to me in the first presentation from Tom Dorsey about volatility was to go look at something I had done a few years back. If volatility picks up before a market breaks down we should see that. The Average True Range (ATR) indicator is a simple volatility indicator. The $VIX tends to generate too many signals, so Read More 

The Canadian Technician

$NATGAS Continues To Stall

by Greg Schnell

$NATGAS still looks to be building a basing pattern, but the start of a new uptrend has been a long time coming. I mentioned this right at the end of yesterday's webinar, but I don't think the recording caught all of it. I was expecting Natural Gas to start turning up well over a month ago. The trade continues to be waffling around here. The losses are still manageable, but its frustrating when the planned trade stalls. Here is the chart.  While the consolidation continues, the price action broke below the up sloping support line. The MACD has rolled Read More 

The Canadian Technician

Industrial Metals ($GYX) Start To Move

by Greg Schnell

The Goldman Sachs Commodity Indexes (GSCI is the acronym) have been setting up bases lately and I have covered the commodities extensively on the Thursday March 19th webinar. The GSCI Index for Industrial Metals ($GYX) had a ballistic launch party. I think it is important to set the back drop. Japan is stimulating by $60 B / month Eurozone is stimulating by $60 B/ month China's premier announced a Whatever It Takes moment last weekend.  25 Central Banks have announced monetary easing since January 1.  The US Federal Reserve has removed the word Read More 

The Canadian Technician

The Rest Of The World Flashes A Caution Sign

by Greg Schnell

Since the announcement of European QE, things across the rest of the world have started to perk up. Even in a strong uptrend, the market pulls back. The caution flag that showed up on VEU last week is troublesome because of the timing and chart position. Recently we had all markets a-blazing and new highs were everywhere around the world. I was very optimistic with the large number of participating markets world wide. Then the new highs didn't hold and everything rolled back over.  We also saw this same dynamic back in 2012 when we had the US administration and the Read More 

The Canadian Technician

3 Engaging Natural Gas Charts Make This Setup Interesting

by Greg Schnell

Just checking in on the commodities and today is a little more interesting than most. Natural Gas continues to consolidate sideways but after repeated spikes down, the price seems to be stabilizing. Chart 1  On February 22nd, I posted an article about Natural Gas (The Canadian Technician - Natural Gas Article) and I am still interested in the group. Today's surge was another one of those that just wears out the short term traders by having a big intra day move up after testing lower in the down trend shown on Chart 1. The intraday range was about 6% on the outside candle. The Read More 

The Canadian Technician

Alibaba (BABA) Approaches Lockup Expiration Day - Doomsday or BuyBuyDay?

by Greg Schnell

So as Alibaba (BABA) approaches its lockup expiration day on March 18th, the news media is announcing the plunge in the stock price that will happen as the stock goes through this period. Here is the chart. Not much to smile about. A 4 month down trend, recently trading below the original pullback and under performing the $SPX on the purple SPURS. A small glimpse of enthusiasm could be tilted towards the positive divergence on the MACD, but that would be a stretch. On March 18, when the lockup expires, what will happen to this highly praised IPO? Chart 1 Read More 

The Canadian Technician

Winding My Apple (AAPL) Watch - Part 2

by Greg Schnell

This is part 2 of a 2 part series on Apple through the stock charts. The first article can be found here. Winding My Apple Watch - Part 1. First of all, let's connect to the previous article with the final chart in Part 1 starting Part 2. Apple's stock tripled from August 2004 to February 2005. The new look desktop was all the rage, the U2 iPod was available and the company continued to roll out new improvements in iLife software. The Mac computers were really starting to garner attention in the PC world as Windows continued to struggle with security. The iTunes store showed up in Read More