The Canadian Technician

Canadian Financials - Time to strike?

Greg Schnell

Greg Schnell

Chief Technical Analyst, Osprey Strategic

An interesting point on the chart today. This is the Canadian Financials Index, long regarded as the safest banks in the world for at least 5 years now.

Cdn Financials

The Canadian Financials Sector moved above it's 10 Week line this week for the first time in 6 months. That is good news. With JPM giving us such a neutral report and they are best of American Breed, The real question is whether we can hold above the 10 week.

But it's time to pay attention, no doubt about it.

Click on the pictures for a current chart you can work with that is also larger. If you are in The Canadian Technician blog site, you can click on subscribe to get this message posted to your inbox, or use the RSS feed. You can also find it on stockcharts.com Facebook page. You need to be right inside the blog section, within The Canadian Technician Blog to see the subscribe button far right. Click on this Banner below to go to the correct page.

Screen Shot 2011-10-13 at 1.10.50 PM

 

Greg Schnell, CMT

Greg Schnell
About the author: , CMT, MFTA is Chief Technical Analyst at Osprey Strategic 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