• Good morning, everyone. Welcome to Tuesday morning. .
• It's Stephen Whiteside here from the uptrend.com. .
• In the pre market this morning, things are fairly quiet. .
• Stock index futures are mixed with the. .
• Dow lower, while the S&P 500 and the Nasdaq are slightly higher. .
• Now, we may see some weakness this week. .
• Not expecting a lot of aggressive selling. .
• We are coming into month end, quarter end, we've got a couple of holidays .
• and that all of those usually have a bullish bias to them. .
• Now, the VIX traded up to the upper channel line yesterday, so looking for. .
• A close on Tuesday above $14.52 to give us a buy signal. .
• That of course, .
• would be in line with what's happening in the major indices right now. .
• We've had the Dow down for six. Days in a row. .
• It's down again this morning. .
• That has a lot to do with Walgreens, which is down over 7% in the pre market. .
• Already on a sell signal. .
• The biggest losers over the past week. .
• Have been Intel, Goldman, Sachs and Boeing. .
• Those have been the biggest losers on the Dow. .
• That's one of the reasons the Dow. .
• Has been down six days in a row. .
• Now we do have the S&P 500 .
• and the Nasdaq both back on sell signals as of Monday's close. .
• Joining the TSX already on a sell signal. .
• The TSX had a big update yesterday. .
• Got some help from commodities. .
• Energy stocks were up, gold stocks were up, .
• but I think it was really the financials with the banks up yesterday. .
• Now no changes in trend there. .
• We just had a really good Monday. .
• We'll have to see if there's any continuation this week. .
• Now, Tesla is back on a sell signal as of Monday's close, and we have an open gap. .
• The bottom of that open gap is at 235.23. .
• So that could certainly be the next area of support on the way down. .
• Then looking at Nvidia, it is back. .
• On a sell signal as well. .
• And you can see the open gap is much farther away than what Tesla. .
• Is dealing with now. .
• Microsoft also back on a sell signal. .
• So some of the big caps are starting to roll over, joining a lot .
• of other technology stocks that have already. .
• Been on sell signals, .
• including Advanced Micro Devices, BlackBerry, Alphabet, and we've got Roku. .
• All on sell signals already. .
• Then looking at Apple, apple still on a buy signal here. .
• No change in trend. .
• We closed down yesterday after making a new high. .
• Looking for a close on Tuesday below 182.79 to give us a sell signal for Apple. .
• 124.73 to give us a sell signal for Amazon. .
• Amazon hit our next price target yesterday of 131.25. .
• So congratulations. .
• If you got an order filled at that level, then. .
• Still waiting for Meta. .
• Looking for a close on Tuesday below 273.64. .
• For shopify in New York, we're looking for a close below 62.22, in Toronto. .
• We're looking for a close below 82.76. .
• Let's finish off with commodity prices and crude oil. .
• It's really, really sloppy here. .
• Looking, you know, if we take a .
• look at the pros and the public, .
• you can see they've been intertwined for over a month now. .
• So it's really not a market that you want to get involved in. .
• If you want to get back into. .
• Crude oil, I'd wait until we see. .
• A breakout of the recent high or .
• the recent low before I would put new money into crude oil. .
• Looking at gasoline just as sloppy. .
• Back on a sell signal here, so that's counterintuitive. .
• We are coming into the summer driving season. .
• We should continue to see upward pressure on gasoline prices. .
• Natural gas new high for this move. .
• Hit our next price target of 780. .
• So congratulations if you got some orders filled there. .
• If we look up, we can see 9.38 as our next .
• target above that and there's a big open gap over here. .
• So if we can start breaking out. .
• Above 7.81, then 9.38 can certainly come into play. .
• Looking at gold, a quiet day yesterday. .
• Inside day for the price of gold holding 178.13. .
• If that breaks, 175 is our next target. .
• Gold was down slightly last time I looked this morning. .
• And there's the price of silver moving up yesterday. .
• We need a close above 21.51 on Tuesday to give us a buy signal. .
• Not expecting that to happen. .
• Okay, folks, that is all for this morning's presentation. .
• Looking for a fairly quiet day. .
• Hope you have a quiet day as well. .
• Next time you'll hear my voice is on Wednesday morning. .