The Canadian Technician

$TSX End Of Quarter Review

by Greg Schnell

The $TSX put in another lower low and a lower high this week and closed down relative to last week. The sideways trading range we see in the Canadian market is reminiscent of the period from July to October where the market traded around a level. The level currently shown as a red line is about 15500. On the price panel, this was the first week on the one year chart below that the $TSX never touched or got above the 10 Week MA (blue line). The RSI and MACD are still in a bullish posture on this shorter term chart although the MACD has crossed below its signal line.  Read More 

The Canadian Technician

The Canadian Technician Recording 2017-03-21

by Greg Schnell

Here is the link to this week's recording. The Canadian Technician With Greg Schnell 2017-03-21 from StockCharts.com on Vimeo. Good trading, Greg Schnell, CMT, MFTA.   Read More 

The Canadian Technician

The $TSX Through Different Timelines - Sell Signal

by Greg Schnell

The $TSX has not made a new high for three weeks and it looks suspiciously like this week is creating an important support level that needs to hold. Below is a one hour chart, which I don't look at often. The RSI is stuck below 60 and the Relative Strength chart shown in purple illustrates the $TSX continuing to underperform the $SPX. The price rolled down significantly and has failed to get any higher than 15645. Monday March 1 was a big rally day in the USA with the Dow up over 300 on a push to new highs. The Canadian market has rallied back up to test the March 1 high, but Read More 

The Canadian Technician

The Canadian Market Loses Some Breadth - 2017-03-07 - Today In The Market Tip

by Greg Schnell

While the market awaits the Federal Reserves decision to raise interest rates next week, lots of things are happening under the surface. The bullish moves in the marketplace are now happening in the defensive sectors and we are seeing more and more information creating a warning for the market cycle. Here is a picture of the Bullish Percent Index (BPI) for the $TSX ($BPTSE). The point I would like to make on this chart is where the BPI crosses the 40 WMA at a very high level, the 4 previous corrections have been at least 5%. In a roaring bull market, that is not so bad but it is Read More 

The Canadian Technician

The Canadian Technician Video - 2017-03-07

by Greg Schnell

Here is the Canadian Technician recording for March 7, 2017.  The Canadian Technician, Greg Schnell 2017-03-07 from StockCharts.com on Vimeo. Good trading, Greg Schnell, CMT, MFTA   Read More