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Technical Analysis Of US & Canadian Banks (video)

This video begins with a brief overview of XLF (Financial Sector ETF), along with some comments on the US banking sector, followed by analysis of the leading Canadian bank stocks as requested by [email protected] in the trading room. Both the US & Canadian banks appear to be at a critical technical juncture. Important support levels, potential price targets & some key potential technical developments to watch for in the coming weeks are highlighted. playback speed can be increased in the settings to reduce video duration

2018-04-18T18:16:53+00:00 Apr 18, 2018 6:16pm|Categories: Equity Market Analysis|Tags: , , , , , |0 Comments

Technical Analysis of Canadian Bank Stocks

Member @smithhali in the trading room has requested a chart opinion on BNS (Bank Of Nova Scotia) with the intention of looking for an objective level to take a long position, should the stock experience a correction in the coming months. Last week I had noticed an interesting disparity in recent weeks between the major US banks & the major Canadian banks & was planning to publish an update on the Canadian banks so I'll post it here for anyone else interested as it appears that the next correction in the Canadian banks might have just recently started. Following the recent [...]

2017-12-18T13:36:51+00:00 Dec 18, 2017 1:36pm|Categories: Equity Market Analysis, Unofficial Short Ideas|Tags: , , |1 Comment

Canadian Banking Sector: Divergences Do Work!

While the divergences in the broad market & the handful mega-cap tech stocks that have been holding it up have not yet succumbed to the negative divergences that have been building on their respective charts, the negative divergences that were highlighted on the Canadian banking sector & leading Canadian bank stocks most certainly have. In response to a request from member @lee1 for my analysis of the 3 leading Canadian banks: TD (Toronto Dominion Bank), BNS (Bank Of Nova Scotia) and BMO (Bank Of Montreal), I posted my outlook for those 3 banks along with the Canadian banking sector in this [...]

2017-04-28T09:41:51+00:00 Apr 28, 2017 9:22am|Categories: Equity Market Analysis|Tags: , , |Comments Off on Canadian Banking Sector: Divergences Do Work!

$TSX, TD & Canadian Bank Stocks

This is a follow-up to the outlook for the Canadian bank sector published on Wednesday as well as a request from @lee1 for analysis on the $TSX. So far, one of the 3 major Canadian banks covered in that post has already went on to play out for the 5-6% correction that was expected, with TD (The Toronto Dominion Bank) trading down exactly 5% so far today and not by mere coincidence, dancing on that horizontal support/target level around 49.20 for most of the afternoon so far today. Posted below are Wednesday's & today's daily charts for TD: Today's [...]

2017-03-10T15:45:43+00:00 Mar 10, 2017 3:45pm|Categories: Equity Market Analysis|Tags: , , |4 Comments

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 [...]

2017-03-08T21:19:08+00:00 Mar 8, 2017 11:17am|Categories: Equity Market Analysis, Unofficial Short Ideas|Tags: , , |3 Comments

Canadian Bank Stocks Poised For A Correction

It would appear that the large Canadian banks are poised for a significant correction. Here's a quick look at the daily & weekly charts of the three largest Canadian banks. At best, it would appear that RY.TO (Royal Bank of Canada) might have one more thrust higher within this bearish rising wedge, possibly to print a marginal new high before breaking below the pattern. RY.TO is currently challenging the previous all-time high from late 2014 which occurred just before the stock broke below its primary bull market uptrend line, where it has remained below since. It appears that the [...]

2016-10-12T10:22:36+00:00 Oct 12, 2016 10:22am|Categories: Equity Market Analysis, Unofficial Short Ideas|Tags: , , , , , |3 Comments