Outlook for Canadian Bank Sector + BMO, BNS, & TD

Member @lee1 inquired about my outlook for the Canadian bank sector including BMO (Bank of Montreal), BNS (Bank of Nova Scotia) & TD (Toronto Dominion Bank). My expectation at this time is for at least a 5-6% correction in the Canadian banking sector which roughly aligns with my expectation for a similar pullback the US banks. I've also highlighted my preferred scenarios with price targets & expected counter-trend rallies on the charts of the 3 big Canadian banks on the charts below.

Click on first chart to expand, then click anywhere on the right of the expanded chart to advance to the next chart. Once expanded, each chart can be further zoomed and panned.

Mar 8, 2017 11:17am|Categories: Equity Market Analysis, Unofficial Short Ideas|Tags: , , |3 Comments


  1. jrandhawa March 8, 2017 11:33 am at 11:33 am

    Randy I appreciate your Technical Work.
    I am less risk averse trader I request you please provide technical analysis on SPX long & Short, SPX Volatility Long & Short & Gold Long & Short on break out or break down bases quiet often.
    Thanks in Advance


    • rsotc March 9, 2017 2:31 pm at 2:31 pm

      Will do jrandhawa. Even when I’m not trading the SPX & other major stock indices as well as gold & GDX, I’ll make a point to post somewhat regular updates as I realize that many traders like to follow them at all times.
      In the past, if I didn’t see any technical developments worth mentioning on something like, say, gold, I wouldn’t post updates, rather focusing on any sectors, stocks or assets classes where I see the most compelling setups at that time.
      In recent months, I’m making a point to post more frequent updates on those more popular indices & the precious metals whether or not my conviction or read on the charts is very strong. Thx for the feedback & request.


  2. lee1 March 8, 2017 11:45 am at 11:45 am

    Thank you for this analysis. Would love to see a 5-6% correction in the Cndn banking sector to enter long.


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