The Canadian Technician

Marijuana Names Soar 2018-08-27 Video

by Greg Schnell

Marijuana names absolutely soared the last two weeks as Canadian legalization approaches. With the rumour of partnership deals in beverages and snacks, the euphoria couldn't be much higher. That might be the problem.  Who doesn't own the stocks that wanted to? The ETF is up 50% in 2 weeks! Individual stocks are approaching 50% to 140% gains in the same period. Here is the Medical Marijuana related ETF. With the volume doubling between Thursday and Friday and now Friday to Monday, this looks pretty significant. The volume today was 5 times average volume!  Read More 

The Canadian Technician

Canadian Markets Follow Through On Weak Breadth Conditions

by Greg Schnell

 Don't forget Chartcon 2018. You can still get access to watch all the recordings of the presenters and the question period. I would suggest taking the time to watch the ChartCon 2018 presentations. The diversity of ideas filled the spectrum of investing styles. The Canadian market has been making lower highs for 5 weeks. Breadth has been decelerating as discussed in the July 31 Canadian Technician video. Here is the link to the 2018-07-31 recording of The Canadian Technician Video. Read More 

The Canadian Technician

Canada's Breadth Starts To Slip 2018-07-31 Video

by Greg Schnell

Canada continues to move higher on lower breadth. This is the Bullish Percent Index in the top panel. The chart shows the percentage of stocks that are on a buy signal. Notice the drop each time the market rallies. Each time we move below the moving average the market retracts.  The number of stocks making new 52 week highs is currently less than the number of stocks making new 52 week lows. At the recent high, we had fewer stocks making new highs compared to January highs. The chart below is the same as the chart above, but you can see how a Read More