• Good morning everyone. Welcome to Friday morning. .
• In the premarket this morning we see Asian .
• markets closed higher overnight, we've got. .
• European markets trading higher this morning and. .
• We'Ve got stock index futures in North. .
• America trading slightly above fair value. .
• So so far it looks like we're going to have a quiet to a. .
• Positive opening at 930 Friday morning. .
• Lots of interesting stuff going on. .
• We've had a lot of after hours activity and I guess Netflix led that off. .
• Netflix reported after hours last night, .
• it traded down to the lower channel line yesterday but did not close below it. .
• So it's still on a buy signal here. .
• It is trading up nicely in the pre market .
• this morning, trading back up at the levels we saw a couple of days ago. .
• And so this stock has recently made a .
• higher high and it might be able to do that again today. .
• Our next mathematical target just above the recent highs is 343 75. .
• And so if you're still long Netflix, I'd .
• be wanting to take some money off the table up at that level. .
• Looking at the Dow, we talked about the Dow diamonds being back on a sell signal. .
• We also talked about the early warning signal at the top of the screen. .
• Now that is also true for the Dow Transports and the Dow Utilities. .
• Now speaking of after hours action, a couple of stocks announced layoffs today .
• and so we've got Alphabet laying a bunch of people off. .
• It is trading higher this morning, still on a buy signal. .
• Wayfair is also laying off a bunch of people and just like Netflix, we traded .
• down to the lower channel line yesterday, did not close below it. .
• We were down $2.13 at the close yesterday. .
• We're up $2.34 in the pre market this morning. .
• So we'll be up at the upper channel line at the open on Friday morning. .
• Now a lot of strange things have happened in the past few weeks. .
• Of course we've got a nice rally to start January off, but we're also seeing money .
• come out of consumer staples ahead of consumer discretionary. .
• Now the market has been acting as if the recession is already over, but. .
• At the same time you can see corporations .
• are acting as it is still coming such as Alphabet and Wayfair are continuing to lay .
• people off, that is ahead of the recession. .
• They're not doing that because the .
• recession is over and things are starting to turn around. .
• Now the metals have had a good week so far, so copper and gold both making new .
• highs this week and so that's helped the mining sector. .
• So the GDX is still in play here inside day yesterday, still on a buy signal. .
• Similar situation for the XEG, both still on buy signals here. .
• So no change there. .
• Now I've been waiting for the energy sector to come back. .
• We've got crude oil on a buy signal. .
• You can see that we recently put in a .
• higher low, and then we put in a higher high. .
• So that's a bullish sign for crude oil. .
• Unfortunately, we're not seeing that sort of action for natural gas at the moment. .
• Crude oil is trading up in the pre market .
• natural gas is trading down slightly in the pre market on Friday morning. .
• So the XLE is still on a buy signal here. .
• And the XEG is also still on a buy signal here. .
• So still looking for the energy sector to continue to move higher from here. .
• Now, the SPY ETF traded down to the lower channel line yesterday. .
• Still looking for a close on Friday below 388 49 to give us a sell signal. .
• Q's, traded back in the channel yesterday, .
• looking for a close below 271 77 on Friday. .
• And looking at the I shares for the TSX 60, we need a close below $30.0.57. Now .
• looking in the opposite direction, the VIX is still on a sell signal. .
• Traded up to the upper channel line .
• yesterday, looking for a close on Friday above 21. .
• 48 to give us a buy signal. .
• And that, of course, would be negative for stocks. .
• Okay, folks, that is all for this morning's presentation. .
• Again, it looks like we're going to see a .
• little bit of buying at the open on Friday morning. .
• Enjoy the rest of your day. .
• Enjoy your weekend. .
• Next time you'll hear from us will be on Sunday. .
• Thank you. .