MY JOURNAL FOR WEDNESDAY – September 28, 2022
NEWS, BREAKOUTS, MOMENTUM PLAYS & BOTTOMS
Financials Wobble | Greg Schnell, CMT | Market Buzz (09.28.22)
The bank stocks are starting to break to new lows. This is concerning. Greg goes through some market charts and then concludes with the potential trouble in the banking sectors.
Welcome to Osprey Strategic
Nearly a Decade of Experience in the Financial Markets
Greg Schnell, CMT, MFTA, is a Senior Technical Analyst at StockCharts.com 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 recent winner of the CSTA’s Technical Analyst of the Year. He is an active member of both the CMT Association and the International Federation of Technical Analysts.
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BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS
ABST.TO – Absolute Software Corp.
CMG.TO – Computer Modelling Group Ltd.
ESE.V – ESE Entertainment Inc.
PET.TO – Pet Valu Holdings Ltd.
PRQ.TO – Petrus Resources Ltd.
TIXT.TO – TELUS International Inc.
MOMENTUM ALERT SIGNALS
The main focus of the SetYourStop Slack workspace is the momentum scanner that was developed to trace abnormal volatility in the Canadian equity market.
Our proprietary momentum scan system searches for abnormal volatility which flags the urgency of buyers. It was designed to signal the potential of momentum coming into an underlying name or sector. The charts issued are to be used as indicators only, not a trigger to buy or sell.– Disclaimer
Once a chart is received, systematic rules are to be used, implemented by the individual (SetYourStop nor ospreystrategic.org holds No Responsibility for one’s actions as the charts given on SetYourStop and ospreystrategic.org are to be used as indicators only and not a trigger to buy or sell) to define and manage risk. Stop-loss orders are an important tool to negate any false signal. The goal is to let winners run while using trailing stop-loss orders to preserve gains.
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