• Hello everyone and welcome to this weekend's edition of Stock Market Timing Television for Sunday, January .
• 15, 2023. My name is Lisa, and I will be your host for this weekend's presentation. .
• Let's start today's presentation by taking a look at the major stock market index ETF's. .
• The eye Shares for the TSX 60 were up 2.54%, and back on a Weekly Buy Signal. .
• The Dow Diamonds ended the week up 2.01%. .
• The S P Y was up 2.69%. .
• And the big winner this week, was the NASDAQ 100. Up 4.53% on the week. But we are .
• still on a weekly sell signal. If the market can continue to move higher this week, we will .
• be looking for a close above $283.53, this coming Friday to generate a new weekly buy signal. .
• Now here's something that may turn out to be a very bullish indicator going forward. The TSX Venture Exchange was .
• up 5.71% on the week. While it is a very bullish sign to see the microcap stocks back in play, .
• Unfortunately, recent history tells us that these microcap rallies are getting shorter and shorter. Let's hope things change this time. .
• Before we take a look at what worked, and what didn't work this week, let .
• me show you a couple of charts that the market is watching very closely. .
• The S&P 500 has continued to make a series of lower highs and lower lows. Many market watchers have .
• drawn a trendline across all of the 2022 highs. We are just about to re-test that major downtrend line. .
• Staying with this chart, you'll also notice that we're coming up to our next Daily and .
• Weekly price target at $406.25. This is where the market previously peaked seven weeks ago. .
• Many investors are also keeping an eye on the major moving averages. For .
• the S&P 500 we just made it up to the 200-day moving average. .
• And so far it looks like the big round number of $400 .
• is holding the market in check. The high on Friday was $399.10. .
• While the NASDAQ 100 is just coming up to retest the hundred day moving average. .
• Moving average resistance is not a problem for the Dow and the TSX. .
• Now, a lot of people are asking themselves whether this is just a short covering rally? .
• Some of the worst performing and the most heavily shorted symbols of 2022, had an amazing week. .
• Let's start off with ARK Innovations up 14.73%. .
• Bed Bath & Beyond, up a whopping 179.39% on the week. .
• Beyond Meat was up 15.52%. .
• Carvana was up 59.18%. .
• Micro Strategy was up 35.23%. .
• And Wayfair was up 13.79% on the week. .
• These are just a couple of examples of broken stocks that had a very good week. Does this tell us .
• that investors who have been met short, see a light at the end of the tunnel and now want to .
• go long? Or is it a sign that these investors have found other stocks to short? Only time will tell. .
• What worked this week? .
• With no change in the weekly trend, Cannabis stocks were the big winners on the Canadian market. .
• Canopy Growth ended the week up +9.06%. .
• And then we had Base Metals upon the week 6.52%. .
• With Teck Resources up 6.15%, getting very close to the 2022 high. .
• Looking at the US market, the big winner was Oil and Gas Equipment and Services leading the market higher. .
• Halliburton gained 6.09%. .
• And then we had the Chips up 6.24%. .
• With NVIDIA gaining 13.73%. .
• Next, let's take a look at commodities. .
• Let's start off looking at the energy sector. .
• With an inside week, Crude oil was up 6.39%. Crude oil remains on a weekly sell signal. .
• On the other hand, natural gas continue to move lower, down another 6.36%. .
• Moving onto metals. Copper was finally able to breakout above the October highs. .
• And gold was finally able to breakout above the 1875 price target. .
• On the weekly charts, our next long-term target for gold is $2000. .
• Silver still holding its own, once again bouncing off the upper channel line. But still closing and trading below $25. .
• Another area of the market that's awesome love this week was .
• the crypto market. Both bitcoin and Ethereum had a great week. .
• Let's finish off this weekend's presentation looking at the VIX. .
• We Will Remain Long Term Bullish On the Stock Market If The Fear Index .
• Continues To Close Below $24.96 This Coming Friday. .
• If you're watching the stock market on Monday, we will remain short term bullish on .
• the market as long as the VIX does not close above $22.19 on Monday. .
• The fear index has been range bound for a couple of months now, and started to break down below .
• 18.75 on Friday. So the options market is certainly telling us that everything is coming up roses right now. .
• Okay everyone, that's all for this weekend's presentation. Friday was a very bullish day for the market. .
• As we said before, the market can go up on a short-term basis during the fed rate .
• raising cycle, but typically the rallies don't last very long. Let's hope it's different this time. .
• The US markets will be closed on Monday but the Canadian markets will be open. .
• We will post Canadian charts on Monday night. Thank you very much for your time .
• and attention. The next time you'll hear from us will be Tuesday morning. .