WEEKEND REPORT – JULY 20, 2020

MY JOURNAL FOR MONDAY MORNING – JULY 20, 2020

NEWS, BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS

The Private Investor Newsletter – GregSchnell.com 📰

Hello everyone, I have moved my daily blog over to GregSchnell.com. Please check us out where you will receive access upon subscription to one strong, concise email per week. The email will contain:

  1. PDF file that will have my top ten charts of the week. This is to summarize all of the work I go through every week and give you the best information on market direction. This will also include my preferred opinion on the market: very aggressive, moderately aggressive, selective, defensive, very defensive. We want to be aggressive coming out of major lows. Theses runs can last a few weeks to months and perhaps more than a year. I will be investing in the same tone I am recommending.

  2. The weekly video which summarizes the major moves in the USA, Canada, rest of world, commodities, bonds and currencies including:

    • Commodities: Copper, steel, rare earth metals, lithium, gold, silver, oil, and natural gas, marijuana.

    • Bonds: 3 month, 2 year, 5 year, 10 year, 30 year.

    • Equities: A large part of my work makes sure that you’ll be in tune with the major moves in the indexes.The protection of capital to miss the big downside moves as well as the aggressive entries near the lows to maximize profits in the moves and keeping it as profit in your portfolio.

    • Currencies: a comprehensive look at the major currency pairs every week. These pairs can drive some of the major changes in world economics. Being aware of these changes when they occur can help you position for new strategies and selections as the changes happen.

    • Global markets are important to support major uptrends in the North American markets. A summary of this information enables you to be aware of country ETF’s that are doing well to help you diversify your portfolio across global markets.

  3. A vital chartlist that you can quickly look through with my top 30 charts at any given time. These charts will change as the market changes and will allow you to see the current status of charts I posted in the newsletter.

  4. Once a month conference call – This will be recorded and saved if you can not attend live but are still interested.

  5. Dwight Galusha also posts daily setups that are appearing on his radar. Here is an example of his chart showing the setup, and the resulting follow through:

Follow-up Chart

A World Without Banks and Energy | Greg Schnell, CMT | Charting the Second Half (07.17.20)

For the bull market to lift all boats, we need a few possible sectors to revert higher. We stand on one of the biggest potential trend changes for commodities in ten years. A must watch show for major theme investors:

 

Award Winning Technical Analysis | Greg Schnell.com | Avoid the downside and learn to keep more of your profits. – LEARN MORE

Be Aware of Crowd Psychology 🧐

With market uncertainty and volatility running rampant, now is a great time to focus on crowd psychology and the four psychological phases of asset bubbles.
Schiller’s dictum – “Anyone taken as an individual is tolerably sensible and reasonable – as a member of a crowd, he at once becomes a blockhead.”
At a time when many retail investors use tools like social media as a resource to find investment information, understanding crowd psychology becomes crucial.
My daily interactions on social media can be summed up best by Economist John Kenneth Galbraith, “We have two classes of forecasters: those who don’t know and those who don’t know they don’t know”. Those who don’t know they don’t know are the ones to look out for, yet I often see new investors making the mistake of falling for these self-proclaimed prophets. New investors must avoid being emotionally swept up by the excitement created by these individuals to prevent their own reality from becoming badly distorted.
What many retail investors don’t realize is that crowd psychology and liquidity is inversely related. During market tops where optimism is… – READ MORE
Dwight Galusha, CMT, is a contributor of 5i Research is a conflict-free investment research provider for retail investors offering research reports, model portfolios and investor Q&A, which is available to try for free (Click Here).

Franco-Nevada (TSX:FNV) – Signal on June 21st, 2019 @ $109.63 (+95% to the high of $214.38 in 11 months) – ALERT LINK

The following are documented trade ideas featured each week in Capital Ideas Digest

Five Questions About Money: Brian O’Hea – Uncommon Sense Investor 📺

Five Questions About Money with Brian O’Hea, Head of Institutional Equity Trading at National Bank. Influences, most memorable purchase, best and worst investments, and advice:

 

View from the Chat Room 💻

Join the Chat by Clicking Here

BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS 📈

MINING

Agnico-Eagle Mines (TSX:AEM) – Daily Chart

Agnico-Eagle Mines is pushing higher from a continuation triangle which is located right below the all-time high while the RSI momentum indicator begins to accelerate higher.

 

Metalla Royalty & Streaming (TSXV:MTA) – Weekly Chart

Metalla Royalty is threatening to breakout above a major volume by price resistance line after bouncing off the 200-day moving average (which is also the 40-week moving average).

 

Endeavour Mining (TSX:EDV) – Daily Chart

Endeavour Mining has bounced off the 50-day moving average and is now threatening to breakout above a major volume by price resistance line.

 

Alexco Resources (TSX:AXU) – Weekly Chart

Alexco Resources appears to be breaking out to multi-year highs from a large base while the RSI momentum indicator begins to accelerate higher.

 

First Majestic (TSX:FR) – Monthly Chart

First Majestic is threatening to breakout from a giant multi-year continuation triangle and above a major horizontal resistance line while the monthly PPO momentum indicator trends higher.

 

Mag Silver (TSX:MAG) – Monthly Chart

Mag Silver appears to be breaking out from a giant multi-year continuation pattern and above a major horizontal resistance line while the monthly PPO momentum indicator begins to accelerate higher.

 

Below is a video I did for StockCharts.com from May 13th where I highlighted the First Majestic and Mag Silver setups:

 

NexGen Energy (TSX:NXE) – Monthly Chart

NexGen Energy is threatening to breakout above a multi-year downtrend line while the monthly PPO momentum indicator beings to perform a bullish cross.

FINANCIAL

Tricon Capital (TSX:TCN) – Daily Chart

Tricon Capital is threatening to breakout from the apex of a continuation triangle and above a major horizontal volume by price resistance line.

 

ECN Capital (TSX:ECN) – Daily Chart

ECN Capital is now threatening to breakout above a multi-month downtrend line. A price move above the dotted horizontal resistance line would complete the technical pattern and suggest more upside price momentum to follow.

 

Thomson Reuters (TSX:TRI) – Weekly Chart

Thomson Reuters has formed a bullish rounded bottom pattern and has started to breakout while the weekly PPO momentum indicator attempts to curl higher near the zero line.

STAPLES

Alimentation Couche-Tard (TSX:ATD.B) – Daily Chart

Alimentation Couche-Tard pushed to a new 52-week high and a new all-time high on Friday. This price action is very bullish as the PPO momentun indicator begins to accelerate higher.

 

Premium Brands Holdings (TSX:PBH) – Weekly Chart

Premium Brands Holdings has started to curl higher from the middle of a multi-year continuation pattern while the weekly RSI momentum indicator starts to curl near the 50 line. Watch for a breakout as it would suggest a continuation of the prevailing uptrend.

 

Dollarama (TSX:DOL) – Monthly Chart

Dollarama is threatening to breakout from a multi-year continuation pattern while the monthly PPO momentum indicator starts to perform a bullish cross.

 

Empire (TSX:EMP.A) – Weekly Chart

After building a bull flag continuation pattern over the last 5 weeks, Empire Company is now pushing up against the underside of a major horizontal resistance line while the weekly PPO momentum indicator attempts to give a bullish sign (a move above the zero line). This technical setup is very bullish and suggests a major breakout could be near.

 

Loblaw (TSX:L) – Monthly Chart

Loblaw is threatening to breakout from a multi-month continuation pattern while the RSI momentum indicator starts to curl near the 50 line. Watch for a breakout as it would suggest a continuation of the prevailing uptrend.

 

Metro (TSX:MRU) – Monthly Chart

Metro is setup to breakout from a multi-month basing pattern to a new all-time high.

TELECOM

BCE (TSX:BCE) – Monthly Chart

BCE has started to curl higher off the bottom of a multi-month continuation pattern while the RSI momentum indicator starts to curl off the 50 line. Watch for a breakout as it would suggest a continuation of the prevailing uptrend.

UTILITIES

Algonquin Power (TSX:AQN) – Weekly Chart

Algonquin Power is threatening to breakout from a multi-month falling wedge continuation pattern while the weekly PPO momentum indicator starts to curl higher off the zero line. Very bullish.

 

Fortis (TSX:FTS) -Monthly Chart

Fortis has started to breakout from a multi-month continuation pattern while the RSI momentum indicator starts to curl higher.

 

Emera (TSX:EMA) – Monthly Chart

Emera has started to breakout from a multi-month continuation pattern and is now threatening to breakout above a major horizontal volume by price resistance line while the monthly RSI momentum indicator starts to curl higher.

OTHER SETUPS TO WATCH

Converge Technology Solutions (TSXV:CTS) – Weekly Chart

Converge Technology has begun to breakout higher from the apex of a multi-month continuation pattern which is located just below a new all-time high.

 

TMX Group (TSX:X) – Daily Chart

TMX Group has broken out from a continuation triangle and is now threatening to breakout above a major horizontal resistance line to a new all-time high. Very bullish chart.

 

Parkland Fuel (TSX:PKI) – Daily Chart

Parkland Fuel is setup to breakout from a continuation pattern. A breakout above the 36.08 price label would complete the bottoming process and suggests more upside momentum to follow.

 

WSP Global (TSX:WSP) – Daily Chart

WSP Global has started to breakout from a falling wedge bottoming pattern and above a major volume by price resistance line while the PPO momentum indicator begins to push higher.

MOMENTUM ALERT SIGNALS 📡

Have a great day! 🙂

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