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

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 

The Canadian Technician

Currencies Are Trying To Tell Us Something Part 2: Euro and Yen

by Greg Schnell

This article continues the key discussion of currencies. Here is a link to Part 1: The $USD. The Euro. Here is the short view. The major point is that this appears to have been rejected at the 115 level one more time. The spike in August 2015 was the highest intraday high. One of the major points about this chart is the breaking of the $DAX, the $XEU and the $SPX trendlines.  Widening out the chart, we can see the Euro's complete history. I think the big picture is the continuous downtrend since the financial crisis. Two interesting patterns on the Read More 

The Canadian Technician

Currencies Are Trying To Tell Us Something Part 1 of 3: The $USD

by Greg Schnell

On the Commodities Countdown Webinar, I implied that there were lots of interesting currency setups currently and I would try to write an article about them this weekend. Here is the first article in that effort.  Currencies occasionally help to spot changes in market sentiment or weighting of international/domestic for equities traders.  While the correlation of the $USD to the $SPX is hardly a reliable trade signal, the changes in trend can be timely with the equity markets on occasion. When they all look ripe for some signal, that can be important. If nothing else, be alert Read More 

The Canadian Technician

Canadian Healthcare Stocks Are Tempting New Investors

by Greg Schnell

Healthcare in North America has been a volatile sector. With the big drops in Valeant and Concordia north of the border and drops in Gilead and Celgene in the USA, the sector has lost some of the shine it previously held. There have been some smaller names starting to percolate to the top of the rankings. Here are a few Canadian charts to think about. Nobilis Health (NHC.TO) was a very strong performer in 2014 and early in 2015. After having a major correction, the stock has become a top performer again. With the previous high almost 80% above current levels, there seems to be room to Read More 

The Canadian Technician

Global Water Surges Above Resistance (GWT.TO) And Lists On The Nasdaq (GWRS)

by Greg Schnell

When companies get into the mode of making profits, they can really outperform. Global Water (GWR.TO) is a great example.  The SCTR has stayed as a top performer for a year now. The Relative Strength in purple just broke out to new highs and the MACD momentum is surging. The volume is extremely light so we normally wouldn't mention it.  However, the company just listed on the Nasdaq using the symbol GWRS. For this reason, it is probably one to watch! Good trading, Greg Schnell, CMT, MFTA. Read More 

The Canadian Technician

Investing On A Knife Edge - Webinar Highlights-2016-05-03

by Greg Schnell

The overbought pullback has arrived. The breadth of the market heading into the overbought situation appears to be demonstrating a new bull market in my work. However, the macro situation is a big cause for worry. We covered a lot on the webinar yesterday.  "The Canadian Technician LIVE!" with Greg Schnell - 2016-05-03 17:00 from StockCharts.com on Vimeo. Webinar Content // Breadth 0:00 //Crude Oil 4:00 // Currencies 5:30 // $TSX 11:00 // Sectors 21:00 // BPI Charts 44:30 // Commodity Countries 48:00 // Closing Thoughts and Ideas 51:00 // Read More 

The Canadian Technician

Energy Stocks Continue To Be Added To Canada's Top Performers

by Greg Schnell

The momentum continues to surge towards the energy sector and now the oil services sector. If you have not seen the change in momentum, I'll be hosting a Commodities Countdown webinar 2016-04-28 and you can click on this link to register. Here are a few more stocks adding to the momentum. ARC Resources (ARX.TO) continues to press to the upside. After breaking to new 6-month highs, it has paused. With the momentum across the industry, this probably has more to run. Lots of the stocks are really running, but the few presented here are Read More 

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