The Canadian Technician

Trading On Both Sides Of A Barbed Wire Fence

by Greg Schnell

With two days left in the quarter, we have some important data points coming out. Friday June 29th will produce an End of Day, End of Week, End of Month, End of Quarter data point. My charts are set up with the tension of a guitar string. Whether it sets off the next Queen - Another One Bites The Dust or the Queen - Don't Stop Me Now is the question.  So here are ten charts that make me very concerned. $BPNYA and $NYA200R.  The first is the bullish percent index for the broader NYSE Index and the second in black histograms is the percentage of stocks above Read More 

The Canadian Technician

Are Utilities Next? 2018-06-19 Video

by Greg Schnell

The $TSX was breaking out to new highs this morning on the back of the marijuana legislation passing both the house and the senate.  While that looks pretty good, it is an important time to watch the market for other clues. I presented a global chart review at the CSTA Annual General Meeting last week that showed a number of weak charts. Since then they have all broken meaningfully. Shanghai to new two year lows is an example. As China is one of the biggest producers of steel and cement, as well as one of the biggest buyers of commodities, this chart induces a Read More 

The Canadian Technician

Canadian Banks - Trouble In Paradise?

by Greg Schnell

The Canadian Banks are pretty much jammed into every portfolio or ETF that tracks any part of the $TSX broad index. A person invested in Canada through an index tracking ETF would find it impossible to own Canadian stuff without the big banks. So that leads me to today's article. The Canadian banks are set up for a big move higher or a fail at major resistance. Let's take a look and then review. I'll do them alphabetically by ticker symbol, but notice where the SCTR is on each one. BMO. (BMO.TO) We can see that BMO fell out of the 75 range in April of 2017 and has not Read More 

The Canadian Technician

Technology Leads In Canada 2018-06-05 Video

by Greg Schnell

The Canadian market has stalled recently at an important resistance level.  A breakout on the momentum line would be a big help to see Canada start to outperform. Zooming in on a weekly chart, the Canadian market has traded inside a 500 point range for a month. Getting to a daily chart, we are almost back at unchanged for the year. In the last two weeks the USA went from near unchanged to up 3%. It will be important to watch the US market as it approaches the February and March highs. I mentioned on the video that crude is struggling Read More