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

Gold Follows Through On The Breakout 2018-12-08 CC

by Greg Schnell

In what was a rough period for equities in general, Gold managed to have a great week, following through on its breakout. Oil continued to hold in the 50s, while the $USD made a second lower high on the daily line chart. The story in bonds continues with the 1-5 year yields inverting. The 10-year has moved dramatically  lower. With the China-America tariff discussions raging, the equities had some wild swings, finally stalling above the 200-day moving average again. Breaking into the equities charts, the 40-week moving average was last week's close. This week, the Read More 

The Canadian Technician

Canada Tries To Rally - Bi-Weekly Market Review 2018-12-04

by Greg Schnell

With the volatility surging, the indexes have really been flopping around. The $TSX continues to struggle. The outside bar forming after Thursdays wild ride is not bullish. The intraday action was better on Thursday, but we will need these levels to hold. The 10-minute chart (a shorter time frame than I usually look at) shows the price moving from the top of the range to the bottom this week. Currently, it is trying to rally out of the hole.  With the wide swinging market, portfolios are being swayed up and Read More 

The Canadian Technician

The Futures Are Set Up To Rally 2018-12-01 CC

by Greg Schnell

With the futures setting up for another big surge, last week doesn't seem as important. But there were lots of important charts. First of all, let's review what happened. In the Commodities, US crude oil went up a little, the Canadian crude went down a little more. The gold miners were weaker than gold, and the marijuana stocks continue to roll over. Natural Gas had big swings each day but ended the week up sharply.  The US sectors were all positive and most of them were up huge. Notice the difference between XLE and the XOP ETF at the bottom. XLE has other types of energy in Read More 

The Canadian Technician

Commodities Rally With An Exception By Crude Related Products

by Greg Schnell

Commodities had a big rally on Wednesday, with the exception of crude oil, gasoline and heating oil. Once Jay Powell started talking and the US Dollar started dropping , most commodities roared. Natural gas has been swinging wildly of late with big back and forth directional moves so aggressive traders are liking that area. For trend traders, the industrial metals continued to pursue higher ground. I have been covering this in the videos in recent weeks. Titles like Metals and Mining Stocks Surge have been controversial as most people are expecting lower levels.  Read More 

The Canadian Technician

Crude Oil Loses Support 2018-11-24

by Greg Schnell

Crude oil dropped to close the week well below support Brexit deal signed with the UK & EU on the weekend US Dollar ended the week higher Gold - I'M PAYING ATTENTION - Important defining moment $SPX ends with a lower Friday close than the October low Crude oil plummeted on Friday. The drop was substantial. The media always sells it as a blessing. Well, actually it's not. The number of jobs tied to the oil business is huge. I think everyone will find this old article particularly interesting. Oil and the Dominoes February 2016. Every market top is different. As the article from Read More 

The Canadian Technician

Metals And Miners Surge 2018-11-21 CT

by Greg Schnell

Canada has a 300 point rally! Canadian banks fall into negative gains on the year Gold stocks keep getting better Energy gets crushed In the last two weeks, the Canadian market has been oscillating with big daily swings. Wednesday marked the first 300 point rally in a long time. While it did not close way up there, the rally closed Wednesday with a 218 point gain. The ROC indicator shows this as a big thrust off the lows. Notice the last surge of this size also jumped off the lows. The secondary lows also had surges near this size. While we are expecting a bounce after breaking below Read More 

The Canadian Technician

Are These Commodities Ready To Surge 2018-11-17 CC

by Greg Schnell

In what could be described as a calming week for commodities, oil finally stopped falling. Gold and Copper bounced a little, and some of the industrial metals are holding up. Lithium and the rare earth metals are trying to rally. After a $20 move down in oil, crude finally stopped at the most logical place for support. The real question over the next few weeks is can crude oil continue to find support here? I don't have an answer for the question. In 2014, when crude oil plummeted, the $USD soared. The $USD has been rising begrudgingly, so it is not the same set up. I will say in Read More 

The Canadian Technician

Gold Finally Had A Day In The Sun $GDX $GLD

by Greg Schnell

Gold finally had a day in the sun. It feels almost remarkable. Much like when rainy days envelope a city for weeks, and then, the first day of sunshine feels so much better.  I love to trade around gold on the long side, which has been infrequent lately! But the charts say to wake up and smell the golden coffee, as it could be time to wake up in your portfolio. Yeah, really, I know, that does sound unbelievable. Come for a chart tour and see if you agree. First of all, let's build a road map. When do you want to own gold stocks? Clearly, not all the time! Let's look at some Read More 

The Canadian Technician

Crude Oil Falls Into The $50's 2018-11-09

by Greg Schnell

In a positive week for the markets, the unease has not lifted in my mind. First of all, a little perspective on what was leading. On Friday, the sector performance was skewed to safety. The defensive sectors align on the right hand side of this performance chart. Over the past week, the defensives were up the most, and the growth charts were not up as much. While almost every sector had a positive week, the defensives still led. If I backed out Friday, it was more even but the defensive areas of the market had a stronger week. The chart below shows all of last week.  Read More 

The Canadian Technician

The $TSX Bounces Nicely, Now What? 2018-11-06 CT

by Greg Schnell

The $TSX has bounced six hundred points off of the lows. This week marks an important place on the charts. While we don't know the future, lots of previous examples suggest these current levels are zones of interest. First of all, the big downslide started as the US Dollar pushed up. Notice in late September the US Dollar popped up above this 100 period moving average. The $TSX started dropping almost in sync. Tonight's close shows the UUP sitting right on the 100 period MA and the $TSX has turned back above.  If we put fibonacci lines on the $TSX Read More 

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