• Good morning, everyone, and welcome to Wednesday Morning. .
• It's Stephen Whiteside here from the .
• uptrend.com in the pre market this morning, things are fairly quiet. .
• DOW futures are below fair value. .
• That might have something to do with UnitedHealthcare. .
• Nasdaq futures are slightly above fair value. .
• So, so far it looks like we're gonna have a quiet open on Wednesday. .
• Today, of course, being Fed Day, I believe there's probably about a 90% chance the .
• Fed is going to pause today and not do anything. .
• If you believe that, and we're 100% right, .
• that's what the Fed is going to do today, that doesn't really matter because we .
• don't know how the market is going to react to what the Fed does and what the .
• Fed says in the press conference after the announcement. .
• Now, the VIX had an inside day yesterday .
• looking for a close above $15.66 on Wednesday. .
• We still have the US. Dollar index on a sell signal. .
• No change there. .
• 30 year bonds still on a sell signal. .
• Bond yields still on a buy signal. .
• No change there. .
• The price of gold's been treading water for the past couple of weeks. .
• Looking for a close on Wednesday above $1,988.40. Silver came down yesterday. .
• Of course, silver has been leading the precious metals higher. .
• Looking for a close below $23.58 on Wednesday to give us a sell signal. .
• Inside day yesterday for crude oil. .
• Crude oil is trading up this morning that could help the Canadian market. .
• Natural gas was up yesterday, looking for .
• a close above 2.44. We've got some mixed signals here. .
• On the previous run up, we actually .
• broke out above the previous high, so that should be bullish. .
• At the same time, we came down and broke .
• previous support and made a lower low, so that should be bearish. .
• So we've got real mixed signals here. .
• We've been in a long term downtrend for natural gas, and we're hoping that it .
• would have turned around by now, but that has not been the case. .
• So looking for a close above $2.44 now, the Dow made a new closing high yesterday. .
• It went up and hit our next price target. .
• The big winner on the Dow yesterday was Caterpillar. .
• Looking at the S&P 500 new high. .
• For the S&P 500. .
• The big winner was the regional bank Comerica, up over 6%. .
• Hard to notice that on the chart. .
• Then looking at the Nasdaq 100 new high. .
• Big winner on the Nasdaq 100 was Rivian .
• and then Semiconductors, making a new high as well. .
• And we had Nvidia was one of the big .
• winners on the SP 500, up nearly 4% on the day. .
• New closing high for Nvidia. .
• Then looking at the TSX, the Ishares for .
• the TSX 60, closing half a cent above the upper channel line. .
• So we're still on a buy signal here for the Ishares for the TSX 60. .
• A big winner on the TSX 60 yesterday was .
• Saputo, which was up over 4% on the day while the big loser on the TSX 60 was .
• Shopify down 2.27%. Remember, we're trying to break out above 87 50. .
• If we can do that, 93 75 comes into play. .
• Looking at those big cap technology stocks. .
• Apple still on a buy signal, very quiet trading on Tuesday. .
• Then we've got Alphabet trading back in the channel. .
• A close above 125.92 would give us a buy signal on Wednesday. .
• Then looking at Amazon. .
• New high for Amazon on Tuesday. .
• Then looking at Meta. .
• Meta is still on a buy signal here. .
• That would change on Wednesday with a .
• close below 262.61. Then we've got Microsoft back on a buy signal. .
• Of course, this new buy signal would be considered a high risk buy signal and not .
• expecting a lot to the upside, but we'll just have to wait and see. .
• Then we've got the chip stock that I watch most closely, advanced Micro Devices, .
• making a new high yesterday before pulling back. .
• Still closing above the upper channel line. .
• We need to close on Wednesday below 118.64 to kick us out of AMD. .
• And then Tesla made a new high for this move on Tuesday. .
• So no change in trend. .
• I would imagine you've sold most of your .
• position so far and you're waiting to get kicked out. .
• Not expecting to get kicked out on Wednesday. .
• We need a close below 219.07, to give us a sell signal for Tesla. .
• Not expecting that to happen. .
• And of course, that lower channel line is going to continue to move higher daily. .
• Okay, folks, that is all for this morning's presentation. .
• Not expecting a lot to happen this morning. .
• Of course, we have no idea how the .
• market's going to react to whatever the Fed does this afternoon. .
• Stay tuned. .
• Next time you'll hear my voice is on Thursday morning. .