The Canadian Technician

Big Swings In Sectors 2018-05-25 Video

by Greg Schnell

This week saw a vicious reversal in the energy sector and a few buy signals in other sectors. Starting with energy, this is a textbook example of an outside reversal bar. The price bar opens the week and moves higher, then reverses mid week and makes a lower low than the previous week, and closes near the lows. The RSI did not make a new bullish signal by touching 70, which is disappointing. In terms of relative strength in red, the energy sector made three month highs in relative strength, but that was about all. It was a short week with the holiday on Monday, and volume may look Read More 

The Canadian Technician

Some Good News On The Canadian Front

by Greg Schnell

The Canadian market has been underperforming for a while. This week some clues of change started to show up. First of all, for the first time since 2016 the Canadian market broke a downtrend compared to the $SPX. Obviously, it is just barely breaking a downtrend, not turning higher yet. However, you can see on the left side of the chart, that when Canada outperformed for the first decade this was a worthy signal to be aware of. It was also a good signal to be in Commodities in early 2016. I discuss this chart at length on the video.  One thing that Read More