|Notes from Gord: “I’ve said this before. Technical analysis is, in my opinion, a graphical representation of market sentiment. It is not simply a series of lines connecting price highs or lows nor is it a collection of arbitrary mathematical calculations. Technical analysis can admittedly be done poorly but a price chart, particularly one with ample data, is in effect a snapshot of every market participant’s sum desire to hold or liquidate a given asset over time, up until the present moment. When evaluated from this context it can offer significant insight. It cannot predict the future but because people collectively tend to make similar decisions when confronted with the same information over and over it is, again in my opinion, possible to identify prevailing sentiment and also note where, as defined by price, participants take the time to assess and reassess the relative desirability of said asset. When a price chart displays an unrelenting uptrend for an extended period of time for example, it could be inferring that market participants have begun, as the old saying goes, to throw caution to the wind.”
Included in this report: Enbridge Inc., Sun Life Financial Inc., Bank of Montreal, First Capital Realty Inc., Fortis Inc., Pfizer Inc.