- Good morning, everyone.
Welcome to Friday morning. .
- It's Stephen Whiteside here from the .
- uptrend.com in the pre market this
morning, things are fairly quiet ahead of .
- employment numbers that are
coming out at 8:30 this morning. .
- And of course, if the employment numbers .
- are good, that could be
bad for the stock market. .
- If the employment numbers are really bad,
that could be good for the stock market. .
- So we'll have to just wait
and see how that works out. .
- But I do need to record this before for .
- those numbers come out or it'll never
get published before the market opens. .
- So here we go. .
- Now, I've probably mentioned this several .
- times this week, but this is
a holiday shortened week. .
- A lot of people are still on vacation. .
- So however today ends up, I'm not
going to take it too seriously. .
- I think everybody will be back at their .
- desks next week and that's where
we should really pay attention. .
- And as you can see, the VIX is still .
- treading water here, still
trading in the Channel. .
- Yesterday was an inside day. .
- We did see the US dollar
index move up yesterday. .
- Of course, corresponding
currencies move down. .
- Then we've got bonds. .
- Bonds have been trading in the channel for
the past two days, hitting the upper .
- channel line, still on a sell
signal, no change there. .
- Then we saw gold move up on Wednesday, .
- tried to hit 1875, pulled
back just before that. .
- And there we see gold down yesterday. .
- We still need to close on Friday below
1814.12 to give us a sell signal. .
- We still have crude oil on a Sell
signal holding $72 at the moment. .
- Natural gas making a new low yesterday, so
no change in direction for natural gas. .
- The Dow diamonds still treading water .
- here, still on a cell signal, no change in
trend for the S&P 500 or the Nasdaq 100. .
- And then the Ishares for the TSX 60. .
- Still on a sell signal, no change there. .
- Then looking at the energy sector, .
- canadian energy stock
still on a sell signal. .
- It looks like they're trying to
find support at Wednesday's lows. .
- Then we've got US energy stocks still
haven't broken down below the December .
- lows trading back in
the Channel yesterday. .
- Then we're looking at gold miners. .
- The GDX pulled back yesterday, while the .
- Ishares for the TSX Global Gold index
actually closed up a penny on the day. .
- Then we're looking at Apple, as we've been
talking about Apple for a while now, .
- looking to see if it can
hold support at 125. .
- It closed at 125.02. .
- And if we start breaking down below 125, .
- I'm sure a lot of people are going to
be expecting it to head down to $100. .
- And then Tesla, tesla has been trading .
- water for the past couple of
days, still trading above $100. .
- That's the big area of
psychological support. .
- And if you're bullish, of course
you're hoping that Tesla holds 100. .
- If you're bearish and looking
for it to head to 62. .
- 50.
Then you want it to break $100. .
- And last up this morning, Microsoft. .
- Microsoft got clipped the other day. .
- It continued lower on Thursday. .
- So it looks like it wants to head
down to retest those November lows. .
- Okay, that's all I want to say
for this morning's presentation. .
- Again, employment numbers
coming out at 8:30. .
- And of course, the market is going to .
- overreact to whatever the numbers are,
whether they're bullish or bearish. .
- And then things will wait till next week .
- before we really see the market
head in a particular direction. .
- Have a great day, folks.
Have a great weekend. .
- Next time you'll hear
my voice is on Sunday. .
- Thank you. .