The Canadian Technician

Some US Retail Stocks Look Ready

by Greg Schnell

Well, if you listen to the analysts, the retail world should be gangbusters this year. Best year in 10 years they say. So how do the charts look? Well, Amazon is off 25% from its high!! I featured it on Friday's Don't Ignore This Chart article suggesting to add it to a watch list. Well, it's still on a watch list but that is a baby-out-with-the-bath-water bar today. It was down 10% intraday today! Yikes! So let's look through the strong ones in case you don't like buying falling knives. Lots of great retail stocks are off like AMZN, but there are some that have stronger chart Read More 

The Canadian Technician

Are Bond Prices Ready To Go Higher? 2018-10-27 CC

by Greg Schnell

Bond prices look like they are are ready to go higher, not lower.  Commodities continue to struggle It's a global meltdown Currencies are hard to figure out right here This is the 30-year bond price. After a move outside the wedge that looked like an exhaustion move, The PPO suggests a big turn to the upside. A break of this four year down trend line on the PPO near zero is a very bullish set up.  Watch for any acceleration on the price here. This is a major turning point if it pans out like the setup suggests.  If it does bounce from here Read More 

The Canadian Technician

Gold Stocks Are Not Supporting Gold

by Greg Schnell

I have been a big believer in Gold stocks. Over the last couple of months, all of my best performers have been in the space. Yesterday I was getting concerned but today I was watching stock after stock take me out. Perhaps it is easiest to spot on the Gold bear chart HGD.TO. The DUST ETF is the same. With a nice setup on Gold, this was looking good. The breakout on this inverse ETF here is concerning. The $CRB chart is very fragile. Seeing the momentum make a lower high and roll over at zero is very concerning. This fits with oil's weakness as well. We have Read More 

The Canadian Technician

$TSX Down 8 % On The Year 2018-10-24 CT

by Greg Schnell

Another wild ride for the markets! The $TSX closed down 8% on the year which is hardly bullish. This is also occurring while the Bank of Canada just raised interest rates to 1 3/4% today. While the falling stock market was not directly attributable to the Bank of Canada, it sure seemed at odds with the price action.  It is very clear that the market is losing a lot of technical support. Currently the $TSX is at new closing lows going back 2 years. We are just a few weeks away from the 2-year anniversary of the US Presidential election where the USA started a big rally from. For Read More 

The Canadian Technician

Oil Looks Weak 2018-10-19 Video CC

by Greg Schnell

In a rocky week for the markets, the indexes managed to make a higher low so far. In the Commodity space, oil looks weak and some of the corresponding ETF's are starting to break trend lines. In the top panel, the Exploration and production ETF (XOP) has broken back below the 10 week moving average. It has not broken a trend line yet. I stopped the trend line on the oil chart just short so you could see the close clearly. Those lines are intersecting at Friday's close. Oil has also moved below the 10 week moving average.  The declining momentum on the PPO Read More 

The Canadian Technician

Zooming Out - Is A Major Market Top In?

by Greg Schnell

One of the things I have focused on when examining the US market as well as other markets around the world is the tops that have been created in the last 20 years.  There are multiple ways to look at tops. Rear view mirrors are great, but more importantly, can you mark significant tops on a timely basis? When do you actually get a sell signal? What types of indicators help us see tops? Is it showboating to call a top? What evidence? If the economics are so bullish, can we still top? The economists create a different vision of the world than Read More 

The Canadian Technician

Some Commodities Drift Higher 2018-10-13 CC Video

by Greg Schnell

Well, a bruising week in equities bruised commodity related stocks but the commodities themselves held up fairly well. ETF's which hold stocks like SLX, KOL, NLR, URA, XLE, XOP, FCG all pulled back.  Precious Metals did better. Gold actually broke through a small 2 month resistance line to close higher on the week. GDX closed up near the highs of the week.  Let's start with some positives. $GOLD looks a little better. GDX tested lower on Friday before closing up near Thursday's high. Notice on both the $GOLD and GDX that the PPO moved above zero. This suggests some improving Read More 

The Canadian Technician

Gold Starts To Run 2018-10-11 CT Video

by Greg Schnell

The Canadian market has been hit hard. The $TSX is currently 200 points away from the highs of 2008. Thats hard to have 10 years with little progress.  The weekly PPO went negative this week which is another reason to be less optimistic for a fall rally. On a weekly chart, the trend is the big thing to be aware of. A down candle at the end of a bad week makes the chart look bad. In this case, it is the location of all the indicators as the chart is breaking down that reinforces the negative sentiment. Most significant breaks of the 40 Week MA change computer trading models from Read More 

The Canadian Technician

Oil Tests The High 2018-10-06 CC Video

by Greg Schnell

Commodities Countdown Oil is extended Gold Miners hold up on a bad Gold day Junk Bonds - clues? Breadth - dismal Indexes need to bounce now To arrive home from a vacation in Bali to an early snowfall in Calgary is quite a shock. Similarly, the market has had some real big changes. Oil is pushing above the prior highs but momentum is extended. Gold down $17 on Monday and the gold miners trade up. Natural Gas continues to extend after the breakout in September in a rare burst. Junk bonds unload which is a big deal. Breadth goes to very weak levels.  Read More 

The Canadian Technician

Technicians Day October 13, 2018

by Greg Schnell

This appears to be a pivotal time for the markets. I am hosting an online and in person conference in Calgary on Saturday October 13th. Could it be a better time to hear some live speakers discuss the current setup?  I have five very exciting technicians joining me on Saturday October 13th from 8 AM MT to 5 PM Mountain time.  If you would like to hear some more thoughts around the current market setup and more discussion, please follow this link. It is a very affordable day and StockCharts members will be authorized to get the best discount. The Past President of the CMT Read More