• Good morning, everyone. Welcome to Friday morning. .
• It's Stephen Whiteside here from theuptrend.com in the pre market .
• this morning, stock index futures are above fair value. .
• Dow futures currently up about 180 points, while yesterday the VIX traded .
• in the channel but ended the day closing slightly lower. .
• A close above 25.71 would give us a buy signal on Friday. .
• The US. Dollar index climbed slightly higher .
• yesterday, looking for a close above 109.29 on Friday. .
• Not expecting that to happen. .
• Now, the market reversed off intraday lows yesterday. .
• Remember, we were starting off on a very .
• negative tone on Thursday morning, but the markets recovered. .
• There's the Dow Diamonds closing up $0.03 after dipping in the channel. .
• The SPY ETF and the Q's both dipped .
• into the channel but recovered at the end of the day. .
• There's the iShares for the Russell 2000 .
• bouncing off the lower channel line, closing in the middle of the channel. .
• And there's the iShares for the TSX 60 .
• trading in the channel and then recovering and going into the close. .
• So the market had a nice recovery yesterday. .
• If you remember, .
• we were looking at the crude oil yesterday, looking for support at 81.25. .
• We got that the crude oil actually closed at 81.40 yesterday. .
• So if we start breaking down from here, then $75 is our next target. .
• Now, energy stocks, they also recovered nicely yesterday. .
• There's the iShares for the TSX energy sector closing just two cent above .
• the lower channel line, but a much bigger recovery in the US. .
• Where the SPDR energy ETF actually closed slightly higher on the day. .
• Now, yesterday we were talking about .
• Tesla, and Tesla is still holding last week's low. .
• So that gives us some hope. .
• On Friday, we're looking for a close above 201.44. .
• It was down another just a little over 2% yesterday. .
• Now, I know some Tesla nuts that think Tesla is the only stock you need in your .
• portfolio, and I would strongly argue against that. .
• Yes, it has potential to go back up. .
• Yes, it is certainly a tradable .
• instrument, but is not a be all and end all. .
• If you want a reference point, .
• if you want to get a good reading, it's a dated book now, .
• but it still talks about the same things that are going on today, .
• and that's the book is called Crossing the Chasm by Jeffrey Moore. .
• And it talks about all the innovative .
• companies that have led the world in technology. .
• And of course, they don't actually end up being the winners in the end. .
• And you can go back in time. .
• You can look at Xerox, .
• you can look at personal computers, you can look at cell phones. .
• There's all kinds of technology references that we can go back and look at. .
• And Tesla has certainly been the leader .
• in the electric vehicle space and automated selfdriving, .
• but they probably will not be the winner in the end. .
• Now, speaking of Tesla, ARK Innovations was in the news yesterday. .
• If you had a choice, .
• if you were a bank and you were going to create a new product, .
• would you create it with this or would you create it with that? .
• This is Berkshire Hathaway. .
• This is ARK Innovation. ETF. .
• Let me show you those again. There's. .
• ARK Innovations. There's. .
• Berkshire hathaway. .
• You're going to create a new partnership. .
• You're going to create a new ETF for your customers. .
• Which ones do you choose? .
• Well, the bank of Montreal went with ARK innovations and they're creating new ETFs. .
• I have no idea why, but that's exactly what they're doing. .
• And that's probably why I don't work for a bank. .
• Now, Apple is still on a buy signal. .
• Amazon is still on a buy signal, but barely. .
• We need to close below 94.29 on Friday to give us a sell signal for Amazon. .
• We are coming up to Black Friday. .
• It doesn't look like people's expectations are very high for Black Friday for Amazon. .
• Now, I own both of those. .
• I also own Goldman Sachs, which helps smooth out the results over time. .
• Now, chips are still doing well. .
• They had a nice recovery yesterday, closed higher on the day. .
• So we're still on a buy signal for Advanced Micro Devices for Intel, .
• for Nvidia, and then, of course, Taiwan Semiconductors. .
• There are big news out that Warren Buffett .
• had taken a position in Taiwan Semiconductors recently. .
• And let's finish off with Gold. .
• Gold looks like it's starting to put in a rounding top here. .
• There's the iShares .
• for the TSX Global Gold Index trading back in the channel yesterday. .
• We need to close on Friday below 1587. .
• And then for the Gold miners, .
• ETF for the GDX, it closed right at the upper channel .
• and looking for a close on Friday below 26 39. .
• Okay, folks, that's all for this morning's presentation. .
• Looking for a higher open on Friday. .
• Enjoy the rest of your day. .
• Enjoy your weekend. .
• Next time you'll hear my voices on Sunday. .
• And at that time, we'll take a closer look at the weekly charts. .