Major Canadian LPs continue to lag behind their US counterparts as the sector leaders broke to lower lows and some of the middle-tier companies saw oversold bounces. VFF remains the strongest daily chart in comparison with its peers, but is not a particularly strong chart on it's own
Many names have been consolidating for months at this point, some longer than others, but we're looking for monthly higher lows on most names. We had some shifting momentum on the charts this week as the hourly trends on some names have changed bullish but remember we are still just looking for daily lower highs. The bulls won't prove anything to us without a...
HARV has some problems right now, both on the chart, and in Ohio where they are apparently under investigation - perhaps leading to the problems on the chart. This is a weak bounce from daily and 4hr oversold conditions, giving us the potential of a daily bear flag
If bulls can hold the low of today, tomorrow, I'll be watching to see what volume looks like on the bounce to anticipate where we may set an hourly lower high in what I anticipate to be an hourly equilibrium that will play out into Monday