The last two weeks has seen a huge surge in the Canadian Technology sector. These stocks have ripped to the upside.
Here is a list of the technology stocks in order of SCTR strength.
The Industrials are still doing well. One concern is the break in PPO momentum. At this point it is wait and see.
The charts that seems to be lining up for some drama is Gold and the Gold miners. The Full Stochastics is starting to bounce off the 20 level. Price continues to hold at support here. The nice part about considering a position in gold miners here is that we are close to the lows to put a tight stop. This is an area to get ready for a move. It might not be this week, but it looks timely.
TLT has made a base and is starting to climb out of it. This should favour a move back into REIT's, Income Trusts and Utilities.
There is a lot more in the video.
Good trading,
Greg Schnell, CMT ,MFTA
