The Canadian Technician

September 2018

The Canadian Technician

Canada Tries To Rally 2018-09-23 Video

by Greg Schnell

This week the Canadian market tried to rally. This rally just got us back ot unchangedd for the year as you can see on the chart. The volume was the highest we have seen in a year due to the Quadruple witching for options. The rally in 2017 started with the big move on a quadruple witching day in September. Lets watch to see if the market can respond again.  The banks also had a nice rally. There is a wide dispersion between the big banks. Energy stocks and material stocks need to turn up but some of the areas are starting to Read More 

The Canadian Technician

Canada's $TSX Sits On The Edge

by Greg Schnell

The $TSX is negative for the year. The monthly chart of the $TSX made a lower high and a lower low in August. 1/3 of the way through September, we have lower highs and lower lows than August. A series of lower highs and lower lows is the definition of a downtrend. This can be seen in the zoom panel. We have been flirting with this long uptrend line shown in blue. This month it looks like we are breaking below the line again. The line shows the Canadian stock market unable to accelerate above the line like it used to do.  In the zoom box, the PPO looks to be giving a sell Read More