The Canadian Technician

More Breaks To Start The Year


In the article yesterday, I mentioned some North American markets breaking out to new highs to start 2021. Today, I'd like to add a few more.

The Brazilian market pushed to new all-time highs to start the year. The momentum shown on the PPO is at the highest level in 5 years on the chart. This is a South American market that is also breaking out. Compare that with the Canadian and Mexican markets, which are doing the same. The US markets are at new highs. When everything is banging on the new-highs table, it is very bullish.

If we continue this look around, here is another market that is not in trouble. It is the Dutch stock exchange. Yes, this market is also breaking out to new 52-week highs to start the year.

So another continent, another new 52-week high to start the year. Looks bullish to me until it stops making new highs.

Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst,
Author, Stock Charts For Dummies

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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