The Canadian Technician

Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is also the author of Stock Charts for Dummies (Wiley, 2018).

Latest Posts

The Canadian Technician

Why Was Canada's Exchange The Least Damaged In Friday's Carnage?

by Greg Schnell

Well, if it wasn't a Black Friday, it was sure a grey Friday. Canada's Exchange ($TSX) was the least damaged on a global selloff. Friday's carnage amounted to 1.7% for the $TSX, but the US Markets sold off by 3-4% and some global markets were down by more than 10%. Italy ($MIB) was clocked falling 12.48%. The centre of the storm, England was down 3.15% but the daily candle was down 8% at one point. I find it interesting that the British market fared better than the American indexes. Canada's $TSX has a large contingent of Gold mining stocks and they gapped up on the open and sold off a Read More 

The Canadian Technician

Canadian Technology Stock Review

by Greg Schnell

Canada has 24 software stocks in the Technology Sector. That makes it a little on the small side compared to some of the other sectors. I will roll through the top 6 in this article to point out a few that could be interesting for investors. Intertain Group (IT.TO) seems to have broken back above the 200 DMA after a three wave correction. Intertain continues to make higher highs and higher lows after a major December low. The MACD looks ready to turn up above the zero line. The SCTR has moved above 75 and looks strong here. Kinaxis Read More 

The Canadian Technician

Canadian Financials Stall - Webinar Skim 2016-06-14

by Greg Schnell

As the market pulled back this week, one of the areas of the market underperforming in momentum is the Financial sector. $SPTFS.  The purple area shows that the financial sector never really outperforms the $SPX consistently. Recently we saw Sunlife and a few of the banks break out to new highs, but the sector continues to have trouble making a sustained breakout. The MACD continues to drift lower as the momentum continues to slowly deteriorate. Today's bounce off the trendline on both the price and the relative strength looks important. If this level Read More 

The Canadian Technician

Canada's Top Utility Companies Are Accelerating

by Greg Schnell

With the concern about the Brexit vote, this could be a wild week. There are lots of moving parts with the Vix Options Expiration on Wednesday, the quad witching for options on Friday, the Fed, the breakdown in European financials, the breakdown in the Asian charts this morning, and crude oil stalling around the $50 level. With all of that, its not a surprise that the Utilities and Consumer Staples continue to perform well. Boralex (BLX.TO) leads the Utilities sector right now. TransAlta Corp. (TA.TO) looks more like the early stages of the breakout Read More 

The Canadian Technician

Gold Miners Close On A Precarious Perch

by Greg Schnell

The Gold Miners ETF (XGD.TO) has been the standout performer of the year. Friday's close marked an exceptionally interesting place on the charts.  From January's low to Friday's high, the ETF is up 95% from the low to the high! Remembering that the ETF is an average of sorts, many individual components surged a lot more than that. However, the price action on Friday was not that good. The ETF opened to a new high, traded higher and then spent all day drifting lower to close at the lower end of the range on high volume. That is a technically weak candle Read More 

The Canadian Technician

Canadian Financial Review, Martin Pring Chimes In! Webinar Skim 2016-05-31

by Greg Schnell

I covered off the majority of the Canadian Financial Sector on Tuesday's Webinar. But we had a special guest with a new bullish buy signal. Martin Pring joined the webinar to launch some bullish charts. "The Canadian Technician LIVE!" with Greg Schnell - 2016-05-31 17:00 from StockCharts.com on Vimeo. Webinar // Canadian Financials 0:00 // Martin Pring China Charts 27:00 // $NATGAS chart 59:00 // The best financial chart in Canada. Sunlife Financial SLF.TO. Sunlife broke to new all-time highs. TMX group Read More 

The Canadian Technician

Betting On Insurance Companies? - The Fed Kickstarts The Charts

by Greg Schnell

Since the Federal Reserve minutes last week, some investors are modifying their expectations for at least a 0.25% increase. Looking on the StockCharts.com homepage today, it was also clear that some of the Canadian insurance companies were starting to show up on the most active list in early trading. A good example is the Manulife (MFC.TO) chart. The SCTR is hitting a 5-month high. This is still weak, but accompanied by a pattern breakout, this probably has more room to run. The SPURS ( This is my acronym for the S&P 500 Relative Strength comparison shown in purple on my Read More 

The Canadian Technician

Archer Daniel Midland (ADM) Sprouts A New Uptrend

by Greg Schnell

Archer Daniels Midland (ADM) is a big player in the Agriculture Industry. ADM revenues are 64 Billion. So the 64 Billion dollar question is : Can this stock start to outperform? Let's look into the chart. The stock has been trending down for a year. This week, the SCTR finally went back above 75 for the first time in a year. The Relative Strength shown in purple is at new 6-month highs which is bullish. The price has recently moved above the 200 DMA for the first time since last summer. After a small pullback, today showed a renewed interest as the ADM stock surged higher. The volume was Read More 

The Canadian Technician

Markets Continue to Align Defensively - Webinar Skim 2016-05-17

by Greg Schnell

One sector that moved to new 52 week highs in price and relative strength was the REITs this week.  I covered those off in this week's Canadian Technician Webinar. "The Canadian Technician LIVE!" with Greg Schnell - 2016-05-17 17:00 from StockCharts.com on Vimeo. Webinar // Breadth // Crude Oil 7:00 // Currencies 14:00 // $TSX 17:00 // $TSX Relative Strength - Important 21:00 // Canadian Sectors 30:00 // Wrap Up 50:00 // With the Fed minutes changing the market's tune on Wednesday, the breakout in REITs looks in question. As Read More 

The Canadian Technician

Currencies Are Trying To Tell Us Something Part 3: Aussie, Loonie and Pound

by Greg Schnell

This is part three of a three-part article on the currencies. Click here to link to the first article on the $USD. Here is the link to part 2: Euro and Yen. For this article, we'll review the Aussie, the Loonie, and the Pound. First, let's start down under. Here is the daily for the Australian Dollar (nicknamed the Aussie - $XAD). I like to think of Australia as the commodity supplier to the Far East. We can see a pretty good correlation between the Aussie above the 65-period MA and a rising Australian Stock Market. Notice the failed break down (it reversed and went back up) in Read More 

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