The Canadian Technician

StockCharts.com Wins Multiple Awards From The CSTA

by Greg Schnell

After a rough couple of days globally, the energy sector looks under attack. The oil producers, service companies, midstream companies and pipelines are all getting crushed in the carnage.  Some of the charts have had dramatic breakdowns. Some are already moving to two-month support levels and others have already broken down below support. The energy ETF for Canada is still holding an uptrend but just barely. We'll do a complete sector review on The Canadian Technician Webinar 2015-06-28 I would encourage you to check out my article regarding Read More 

The Canadian Technician

Why Was Canada's Exchange The Least Damaged In Friday's Carnage?

by Greg Schnell

Well, if it wasn't a Black Friday, it was sure a grey Friday. Canada's Exchange ($TSX) was the least damaged on a global selloff. Friday's carnage amounted to 1.7% for the $TSX, but the US Markets sold off by 3-4% and some global markets were down by more than 10%. Italy ($MIB) was clocked falling 12.48%. The centre of the storm, England was down 3.15% but the daily candle was down 8% at one point. I find it interesting that the British market fared better than the American indexes. Canada's $TSX has a large contingent of Gold mining stocks and they gapped up on the open and sold off a Read More 

The Canadian Technician

Canadian Technology Stock Review

by Greg Schnell

Canada has 24 software stocks in the Technology Sector. That makes it a little on the small side compared to some of the other sectors. I will roll through the top 6 in this article to point out a few that could be interesting for investors. Intertain Group (IT.TO) seems to have broken back above the 200 DMA after a three wave correction. Intertain continues to make higher highs and higher lows after a major December low. The MACD looks ready to turn up above the zero line. The SCTR has moved above 75 and looks strong here. Kinaxis Read More 

The Canadian Technician

Canadian Financials Stall - Webinar Skim 2016-06-14

by Greg Schnell

As the market pulled back this week, one of the areas of the market underperforming in momentum is the Financial sector. $SPTFS.  The purple area shows that the financial sector never really outperforms the $SPX consistently. Recently we saw Sunlife and a few of the banks break out to new highs, but the sector continues to have trouble making a sustained breakout. The MACD continues to drift lower as the momentum continues to slowly deteriorate. Today's bounce off the trendline on both the price and the relative strength looks important. If this level Read More 

The Canadian Technician

Canada's Top Utility Companies Are Accelerating

by Greg Schnell

With the concern about the Brexit vote, this could be a wild week. There are lots of moving parts with the Vix Options Expiration on Wednesday, the quad witching for options on Friday, the Fed, the breakdown in European financials, the breakdown in the Asian charts this morning, and crude oil stalling around the $50 level. With all of that, its not a surprise that the Utilities and Consumer Staples continue to perform well. Boralex (BLX.TO) leads the Utilities sector right now. TransAlta Corp. (TA.TO) looks more like the early stages of the breakout Read More 

The Canadian Technician

Gold Miners Close On A Precarious Perch

by Greg Schnell

The Gold Miners ETF (XGD.TO) has been the standout performer of the year. Friday's close marked an exceptionally interesting place on the charts.  From January's low to Friday's high, the ETF is up 95% from the low to the high! Remembering that the ETF is an average of sorts, many individual components surged a lot more than that. However, the price action on Friday was not that good. The ETF opened to a new high, traded higher and then spent all day drifting lower to close at the lower end of the range on high volume. That is a technically weak candle Read More 

The Canadian Technician

Canadian Financial Review, Martin Pring Chimes In! Webinar Skim 2016-05-31

by Greg Schnell

I covered off the majority of the Canadian Financial Sector on Tuesday's Webinar. But we had a special guest with a new bullish buy signal. Martin Pring joined the webinar to launch some bullish charts. "The Canadian Technician LIVE!" with Greg Schnell - 2016-05-31 17:00 from StockCharts.com on Vimeo. Webinar // Canadian Financials 0:00 // Martin Pring China Charts 27:00 // $NATGAS chart 59:00 // The best financial chart in Canada. Sunlife Financial SLF.TO. Sunlife broke to new all-time highs. TMX group Read More