- Good morning, everyone.
Welcome to Wednesday morning. .
- Stephen Whiteside here .
- from TheUptrend.com. This is
going to be a very quick update. .
- We found a problem
in the database last night. .
- We missed the symbol change
for Norton LifeLock, .
- and that screwed up some of the symbols
in the middle of the US .
- database. .
- Those have now been corrected. .
- I guess I missed it. .
- Too much time focused on Apple and Tesla
at either end of the database. .
- I wasn't checking
in the middle last night. .
- Big news from yesterday. .
- The cryptocurrencies got whacked. .
- Both bitcoin and ethereum got hit hard. .
- These are tradable symbols
with risk capital. .
- You certainly don't want to be putting
any long term money into these. .
- I have absolutely no interest
in the cryptocurrency market. .
- I've just added these to the database
on the request of some members. .
- But I certainly don't want to be .
- personally involved
in the crypto market at all. .
- Now, Disney is in the news this morning,
already on a sell signal. .
- Came out with earnings. .
- Next target to the downside is 93.75. .
- We're trading just below that in the pre
market on Wednesday morning. .
- Another stock in the news
this morning is Meta. .
- Meta is up in the pre market. .
- We need to close above 103.44. .
- We're trading at 101 and change. .
- The bottom of the open gap
here is at 101.85. .
- So we're trading just under
that and in the channel, .
- not enough to give us a buy
signal on Wednesday morning. .
- Looking at the VIX,
the VIX closed higher yesterday. .
- We're still below the lower channel line. .
- We need to close on Wednesday above 27
29 to give us a buy signal for the VIX. .
- If that were to happen, that would
certainly be negative for the markets. .
- There's the Dow continuing
to lead the market higher. .
- The TSX traded up to last
week's high and stopped. .
- And there's the SPY S&P 500 ETF .
- trading up and over the upper channel line
yesterday, but closing just below it. .
- So we're looking for a close
above 382 76 on Wednesday. .
- We're looking for a close above
274.51 for the Nasdaq 100 ETF. .
- They're semiconductors making a new high .
- for this move, trading up
to the early October highs. .
- And we're being led higher
by Nvidia, not AMD. .
- Now, if you remember last month, .
- we had Nvidia get back on a buy
signal that didn't last very long. .
- But then compare that to
what happened to AMD. .
- And so at that time, .
- I mentioned that it looks like the market
wants Nvidia a lot more than AMD. .
- And then if you look and see what's .
- happened over the past couple of weeks,
there's Nvidia, there's AMD. .
- Both are on buy signals. .
- One is outperforming the other. Last up.
Energy stocks. .
- US .
- energy stocks closed
slightly higher yesterday. .
- Canadian energy stocks
closed slightly lower. .
- Both are still, of course,
trading above the upper channel line. .
- So not overly concerned
on Wednesday morning. .
- Okay, folks. .
- That's all for this
morning's presentation. .
- Sorry to keep it so short and sweet,
but we did have some technical .
- difficulties that we had
to deal with this morning. .
- Enjoy the rest of your day. .
- Next time you learn to hear my voice .
- is on Thursday morning music. .
- You. .