• Good morning everyone and welcome to Wednesday morning. .
• It's Stephen Whiteside here from .
• theuptrend.com in the pre market this morning, the futures are mixed. .
• We've got stock index futures trading below fair value, while we've got .
• commodities with both crude oil and gold trading up on Wednesday morning. .
• Looking at Tuesday's trading action, we .
• saw the VIX generate a buy signal that of course can be negative for stock s. .
• We stopped right in the middle of the recent trading range. .
• The market isn't going to get overly concerned about the VIX till it starts .
• breaking out above the 200 day moving average. .
• Now we did see the TSX come down. .
• The Ishares for the TSX 60 made a new low for this move. .
• Banks are out with earnings this morning. .
• Both the Bank of Nova Scotia and the Bank of Montreal came out with earnings. .
• They're both trading lower in New York in the pre market on Wednesday morning. .
• Looking at the Dow Diamonds, they're back on a sell signal as of Tuesday's close. .
• Nike is still driving the Dow lower, .
• making a new low for this move once again on Tuesday. .
• Then we're looking at the S&P 500 trading .
• back into the channel, looking for a close below 412. .
• 39. .
• We got as high as 418. .
• 72 yesterday, so still couldn't break out above the 420 level. .
• Then we're looking at the QQQQ's still above the upper channel line. .
• Looking for a close on Wednesday below 327. .
• 77. .
• And we saw an inside day for the semiconductors on Tuesday. .
• Now walking through those big cap stocks that the world is watching, you can see .
• that we saw a pullback for Google on Tuesday. .
• We did hit the 125 level. .
• So congratulations. .
• You got to lock in profits there. .
• We were not so lucky on Amazon. .
• We did not hit 118. .
• 75. .
• Looking for a close below 111. .
• 65 for Amazon on Wednesday. .
• Then Apple, apple is back on a sell signal as of Tuesday's close. .
• Then looking at Meta. .
• Quiet trading day for Meta on Tuesday. .
• No change there. .
• We did hit 250. .
• So congratulations. .
• You were able to lock in some profits there. .
• Then looking at Microsoft, Microsoft still .
• trading, closing above the upper channel line. .
• A close below 310. .
• 78 would give us a sell signal on .
• Wednesday and so far we have not been able to hit the 328. .
• 13 level. .
• Then we saw a strong pullback yesterday for Netflix. .
• Still trading and closing above the upper channel line. .
• There's a nice open gap there that could act as a potential price target. .
• Looking for a close below 341. .
• 29 on Wednesday to give us a sell signal. .
• And we went up and rang the 375 level a couple of days ago. .
• So congratulations, you were able to lock in profits up at that level. .
• Then looking at Nvidia, we were able to lock in profits at 312. .
• 50. .
• Looking for a close on Wednesday below 293. .
• 57 for Nvidia. .
• Then bearish reversal day for Tesla, we were able to hit 187. .
• 50. So congratulations. .
• You got to take some profits off the table at that level. .
• And there's yesterday's bearish reversal signal for Tesla. .
• Then looking at Canadian infotech, we are .
• back on a sell signal as of Tuesday's close. .
• A lot of it had to do with the big swing in Constellation software. .
• It is a $2,600 stock. .
• We need a close on Wednesday below 2583. 50. .
• Then looking at Shopify, shopify is back on a sell signal as of Tuesday's close. .
• And looking at CGI, it is also back on a sell signal as of Tuesday's close. .
• Last up, looking at commodities, we saw crude oil move up yesterday. .
• It's up in the pre market this morning. .
• Unfortunately natural gas came down yesterday. .
• Still on a buy signal. .
• That would change on Wednesday with a close below 2.46. Then looking at energy .
• stocks, once again, the Ishares for the TSX energy sector were up on Tuesday. .
• And then we saw the US energy sector also .
• move up and generate a buy signal as of Tuesday's close. .
• Looking at gold, gold was down 2.90. .
• It's up 6.50 last time I checked. .
• In the pre market, we also have silver trading higher. .
• It made a new low for this move on Tuesday. .
• And there's the GDX down zero point 69% on Tuesday. .
• And the XGD was down just a tick over one and a half percent on Tuesday. .
• Okay folks, that is all for Wednesday morning's presentation. .
• Stock index futures are still down across the board. .
• They're being led lower by the Russell 2000 and then the Nasdaq. .
• But certainly no panic in the pre market on Wednesday morning. .
• Enjoy the rest of your day. .
• Next time you'll hear my voice is on Thursday morning. .