The Canadian Technician

5 Charts To Chill The Heat

by Greg Schnell

The markets are at or near all time highs. The optimism is overwhelming. Consumer confidence just roared in with a triple digit positive reading of 104 and this is only the third time in history the confidence has been so high. What's not to like? Breadth is an important feature of technical analysis as it ranks how many stocks are participating. Greg Morris has written entire books on breadth, so I won't attempt to cover it all off in one blog. So what is breadth? Breadth measurements help us understand how many participants out of a group of stocks are involved. The old Read More 

The Canadian Technician

A Review Of The Canadian Banks

by Greg Schnell

This article follows on from a look at the US Banks. The Canadian banks don't look anywhere near as bullish. Most of these charts need lines to show where support is reaching a rather critical stage. First we'll start with the RBC or Royal Bank. RY in USD terms. The Canadian chart looks as bad at RY.TO but I'll stay in USD to be consistent with the other article. RBC (RY) is building a multi year topping structure with the 40 WMA pointing down. The SPURS in purple are declining and the SCTR rank puts RBC in the bottom quartile. The huge volume on the Read More 

The Canadian Technician

A Review Of US Banking Stocks

by Greg Schnell

Recently the US banks have been soaring like they are drinking some kind of Kool-Aid. JP Morgan (JPM), Citigroup (C), Bank Of America (BAC), Wells Fargo (WFC), US Bankcorp (USB) have all been surging higher. Goldman Sachs (GS) and Morgan Stanley (MS) have followed. Time to do a little competitive comparison as I see the building names on the skyline here in London. Starting with the grand daddy, JP Morgan (JPM). The purple SPURS is soaring to new heights. the SCTR has been above 75 the longest since 2013. Bullish! Citigroup (C) pushed Read More 

The Canadian Technician

A Complete Review Of Smoking Hot Cyber Security Stocks (MUST LOOK!)

by Greg Schnell

Wow, is this Cyber Security Industry group on fire. What a hot looking group of charts! I had dinner last night with some risk management (Cyber Security) specialists. It motivated me to go check out the charts. Maybe they'll check out my article! I did find a listing of 25 companies to be watching for Cyber Security in 2015.  While I wouldn't buy  willy-nilly some of these have beautiful charts. Here is the link to the top 25 to watch article I used to make my list. Cyber Security (Top 25). Some companies are not public. Read More 

The Canadian Technician

Manulife (MFC.TO, MFC) and Sunlife (SLF.TO, SLF) Make 52 Week Highs

by Greg Schnell

Manulife has been performing well since the Fed keeps talking up the potential for them to consider raising interest rates if inflation picks up. Manulife (MFC.TO, MFC) has been shining for a while but it picked up speed recently. The SCTR for the Canadian listing is up around 83 which is excellent. The stock is enjoying a clear breakout.  The move on the US chart looks a little different. (MFC). Manulife's US listing (MFC) is compared in the large cap SCTR ranking against the rest of the large caps and it is not outperforming as Read More 

The Canadian Technician

10 Oil Majors Charts You Have To See

by Greg Schnell

I picked 10 Oil Majors to review this week as June 13 marks one year since the decline in oil prices started. I think these charts are important as they do a strong job of representing the oil industry and investor sentiment towards the group. The oil industry had been responsible for 1/3 of the capital spending in 2014 across the S&P 500 and the oil majors are obviously key in that. While many of the companies reduced their 2015 spending by 10-30%, the knock on effects of that slowdown rippled across transportation, utilities, steel, valve manufacturers, data control Read More 

The Canadian Technician

14 Charts From An Investors Walk Through A Retail Mall

by Greg Schnell

The other day, my wife suggested we go to the mall to pick something up for our daughter. I usually give the look over the top of the glasses like 'What did I do to deserve this fate?' I went through the mall with a muted level of interest but then started to think about who is ringing the cash register as my wife and I are buying some perfumes in a very pink store. On my journey, I did notice one of the guys clothing stores had moved, Lululemon is getting a larger space, the Bay is renovating, and one of the anchor tenants continues to have the retail display skills of fatal Read More 

The Canadian Technician

The Fabric of Fiction - Dow Theory Using $INDU

by Greg Schnell

Dow Theory. Is it drama? Is it the current reality? Perhaps distorted reality? I have given up on Dow Theory using $INDU as a timing tool. The start of Dow Theory was by Charles Dow and his interpretation was if the transports price action diverged from the industrial companies, we have a problem till resolved. Well, the game changed long ago on the Dow Industrials. Do we have a divergence? yes. We have a confirmation of a divergence. However the current name of the Dow Jones Industrials Average couldn't be more misleading. You won't find American Express (AXP), JP Read More