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 international banking charts on the Commodities Countdown blog as well.
This is a great time to review all the blogs on StockCharts.com. I think every writer has posted multiple pieces discussing the current market and there are some gems in each one.
I also wanted to thank everyone who took the time to vote in the 2016 Annual Awards by the CSTA. StockCharts.com won 4 team awards including Best Technical Analysis Team, Best Charting website, Best Mobile Charting, and Technical Analysis Supporter of the year. I was honoured to accept two awards for the Canadian Technical Blogger Of The Year and Technical Educator Of The Year.
We look forward to seeing you on the webinar tomorrow. If you can't make it live you can watch the recording on the StockCharts.com Webinar Archives following the live webinar.
Good trading,
Greg Schnell, CMT, MFTA
