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David Chapman

David is a Technical Strategist with MGI Securities. He regularly writes articles of interest to the investing public. David has over 30 years of experience as an authority on finance and investment, through his range of work experience and in-depth market knowledge. David has his own website at www.davidchapman.com.

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Description Type Date
Technical Commentary for March 23, 2015

This week…… The Fed lost patience but downgraded its growth outlook and lowered its Fed funds targets. The markets rejoiced as stocks, bonds and golds all “leaped” to the upside. The US$ went in the opposite direction. The S&P 500 continues its upward march within what...
  2015-03-23
Technical Commentary for March 9, 2015

This week….. Have the markets topped? The markets are 15 years from the March 2000 top and 6 years from the March 2009 bottom. Could March once again be signaling a top? Selling pressure was hard on Friday following the release of the February nonfarm payrolls. Fear of the Fed hiking interes...
Article 2015-03-09
Technical Commentary for March 2, 2015

Once again the US stock markets made new all-time highs. Well all except the DJT. New highs were seen in the Euro zone as well and Japan. With interest rates at or close to zero and below zero especially in the Euro zone funds are rushing into the stock markets. Complacency reigns. Beware the Ides ...
Article 2015-03-02
Technical Commentary for February 23, 2015

This week….. The US stock markets moved to new all-time (nominal) highs this past week thanks to what appears to be a deal for Greece. The deal could prove to be illusory and the why is discussed. Could the S&P 500 be forming an ascending wedge pattern? Worth keeping an eye on. The DJT d...
Article 2015-02-23
Technical Commentary for February 9, 2015

This week…. The US stock markets attempted to break out this past week given the improvement in oil prices but the nonfarm payrolls and the downgrade of Greece raising the spectre again of the “Grexit” pushed markets lower on Friday. The DJT is underperforming the other US indice...
Article 2015-02-09
Technical Commentary for January 19, 2015

Possibly the most important financial event of 2015 took place this past week. It was the unpegging of the Swiss Franc to the Euro by the Swiss National Bank (SNB). The ramifications of this important event not only reverberated around the world there may be more ramifications as the market moves f...
Article 2015-01-19
Technical Commentary for January 12, 2015

This week….. The first week of 2015 was highlighted by the killings in Paris. Globally the stock markets fell (except China) as there was concern over falling oil prices and deflation in the Euro zone. The US nonfarm payrolls were generally as expected but hourly earnings fell and the market...
Article 2015-01-12
Technical Commentary for December 15, 2014

This week... The stock market cracked this past week because of the sharp drop in oil prices. The US indices fell more than 3% while the Cdn indices were down over 5%. The US indices were down despite another round of seemingly reasonable economic numbers. The bad news of falling oil prices seem to...
Article 2014-12-15
Technical Commentary for December 8, 2014

This week….. Once again the US stock markets made new highs. Except not everyone joined the party. The TSX Composite was down for the 2nd week in a row after the banks were hit hard. Bonds fell on the week as the US the surprising US job numbers overwhelmed lower oil prices. A discussion of ...
Article 2014-12-08
Technical Commentary for December 1, 2014

This week….. Once again the US Stock market made new highs thanks to OPEC not cutting oil production and a big drop in oil prices. The S&P 500 made its new highs then closed lower on Friday. A negative sign? Possibly but a down day on Monday would start to confirm. The TSX Composite didn...
Article 2014-12-01
Technical Commentary for November 24, 2014

This week…. The US stock markets once again soared to new all-time highs as China cut interest rates and announced QE and the ECB was showing signs of QE. Japan is going to have an election to give Abenomics a mandate for its massive QE. The FOMC released its October minutes and they don&rsq...
Article 2014-11-24
Technical Commentary for November 17, 2014

This week….. Once again the US stock markets made new highs. But the week was spent trading in a narrow range and failed to close above the broadening channel. The market appeared to be churning on low volume. War talk is looming in the background. Bonds were flat on the week. Not much to sa...
Article 2014-11-17
Technical Commentary for November 3, 2014

This week... The Fed ended QE. The BOJ started a new program of QE. The stock markets rejoiced. Gold was repulsed. The stock markets soared to new highs. Gold was trashed to new lows. The gold stocks were hurled into a panic decline. The US stock market could be making a broadening top pattern. The...
Article 2014-11-03
Technical Commentary for October 6, 2014

This week…. The nonfarm payrolls exceeded expectations and the unemployment rate fell and that in turn triggered a rebound for the stock markets that had been falling. ‘Buy the dip’ remains the mentality. Trouble continues to lurk in the background and they are noted. October is ...
Article 2014-10-06
Technical Commentary for September 22, 2014

This week…. The week was all about the FOMC, Alibaba and the Scottish referendum. As expected the FOMC did nothing with regard to interest rates and it is going to be sometime before they hike interest rates but it will be based on economic data. Alibaba soared 40% after its record IPO. Scot...
Article 2014-09-22
Technical Commentary for August 25, 2014

This week….. Once again the US stock markets jumped to new all-time highs (nominal). But not everyone joined the party. A divergence? Perhaps but one week is not conclusive. September is coming and it is the cruelest month. The background of a world awash in debt and geopolitical concerns co...
Article 2014-08-25
Technical Commentary for June 23, 2014

This week…. Another typical week for the stock market. New highs once again. But the range is getting narrower and narrower. I feel like a broken record warning that a fall is coming. And the fall might only be a shallow one. But after five years up this market is long in the tooth and warni...
Article 2014-06-23
A Stock Market on Steriods

  The chart of the S&P 500 is one everyone who is long the market should be worried about. In terms of bull markets, while the current one may not be the most powerful one following a 50% or more collapse in the market it is one of the longest. This current bull is now over 1,300 trading d...
Article 2014-06-23
Technical Commentary for June 16, 2014

This week….. A surge in violence in Iraq and Ukraine sent the US stock markets to the downside this past week. On the other side both US Treasuries and gold rose as safe havens were sought. The trading range for the US stock markets has narrowed over the past several weeks. This narrowing tr...
Article 2014-06-16
Technical Commentary for January 13, 2014

This week…. This marks the return of the weekend commentary in 2014. A full report should come next week. One full week has now gone by and so far in 2014 the stock market is faltering while gold and gold stocks are rising. An omen? Naturally too early to tell but at this time last year the ...
Article 2014-01-13

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