The Canadian Technician

February 2018

The Canadian Technician

Canada Bounces Into Resistance 2018-02-27 Video

by Greg Schnell

Canada has not been in the big bull market the USA had going earlier this year. After a big pullback in the USA and Canada, we are watching the height of the bounce to see if Canada can get back into the bullish camp. Currently the $TSX has bounced up and stalled at the area of resistance that has been in place for four years. However, there are broader concerns. The RSI indicator shown in the top panel bounced down to 30. A bear market indication occurs when the weekly RSI gets down to 30.  Canadian breadth is poor but above dismal. Breadth is defined as the number of Read More 

The Canadian Technician

Canada Prints Very Weak Sector Charts 2018-02-13 With Video

by Greg Schnell

The Canadian charts have been getting weak for a while. The last two webinars pointed to declining strength in the Canadian market. The breakdown in the last two weeks just accelerated the downward trend, it didn't start it. The financial sector really needs to rebound soon to not break the uptrend in momentum shown on the PPO chart. The energy sector is abysmal. The RSI is in bear market mode. The energy sector is near if not at 2-year lows. That was sudden. The 8-month uptrend on the PPO is breaking down at or near zero. That is just terrible. It is Read More