The Canadian Technician

November 2015

The Canadian Technician

Finding Some Top Stocks In Canada's Bear Market

by Greg Schnell

Hidden in the demise of the commodities are some gems in other industries. Companies in Aerospace, Biotech, packaging, insurance, and water purification just to name a few are working to transform their businesses and change investor outcomes from the common names in Canada. Some are well above consolidation, so I won't cover them here, but there are some nice stocks that look ready to move. Onex Corp (OCX.TO) is at a critical point on the chart. OCX.TO is trying to break out to the upside. The relative strength shown in purple is at an important junction. If it can break out, it Read More 

The Canadian Technician

European Equity ETF's Start To Accelerate

by Greg Schnell

In the world of central bank stimulus, currently China, Japan and Europe have some form of stimulus going. Recently, Mario Draghi from the ECB said they would look at increasing the level of stimulus in their December policy meeting. While most of the global markets have been trapped under their 200 DMA, this week a lot of the European charts broke above on this notion of more stimulus coming on board. As all currencies seem to be endlessly dropping to the US currency, investors choosing to work in European investments may need a hedged product to protect themselves against currency Read More 

The Canadian Technician

Checking In On The Canadian Health Care Stocks

by Greg Schnell

The last time I wrote about healthcare stocks, my thoughts were around Valeant (VRX.TO). I had no idea it would implode like it did. Is Valeant About To Cause Heartburn? Here is the current Valeant Chart (VRX.TO). This might just have enough bad news baked in, but I'll leave trading falling knives for some other style of investing. Using the SCTR, we can see a few stocks have a ranking above 75. I'll use charts that have a minimum volume of 100,000 which is still light, but we can review them. Starting Read More 

The Canadian Technician

Toronto PnF Chart Restarts Primary Bear Market Signal

by Greg Schnell

Canada made market highs in 2014. Recently it rallied up and tried to restart a new bull market cycle. Today, that cycle reversed and we marked a resumption of the primary bear market trend. I showed this chart in my webinar yesterday. You can see that webinar by following this link. Commodities Countdown 20151105. This is still a concern for all the commodity related countries as commodities continue to go lower here. Not great news for the $TSX as the recent rally appears to have stopped for the Canadian Marketplace. Maybe next week, it will pop back up. The $TSX Read More 

The Canadian Technician

Oil Stocks Are Rallying Like There Is No Tomorrow

by Greg Schnell

One of the great influences in my life used to talk about how something was 'going like there is no tomorrow.' It's an interesting phrase and it reminds me of the US oil stocks rallying this week. Crude is stuck in the trading range between $43 and $51. But the indicators tell a different story. The MACD has a nice positive divergence. That should not be a surprise to anyone as the momentum on the major drop in crude oil last year was huge. Now that crude is stabilizing in a trading range the momentum lower is a lot less. The SPURS relative strength shown in purple is stabilizing, but it Read More