• Good Morning, everyone, and welcome to Friday morning. .
• It's Stephen Whiteside here from theuptrend. .
• com. .
• In the premarket this morning, things are very quiet. .
• The market is waiting for employment numbers coming out at 8:30 this morning, .
• and those numbers will certainly add some volatility to the market. .
• Now, the market was again focused on interest rates on Thursday, where we saw .
• another pop in bond yields and bonds continue to move lower this week. .
• So the market is very concerned about the July Fed meeting, and there's currently .
• just under a 90 % chance of a quarter to a half point rate hike in July. .
• That's what the market is anticipating right now. .
• We got a big pop in the VIX yesterday, so .
• it is back on a buy signal that, of course, can be negative for stocks. .
• We closed right at the first price target, looking for a move up to 18.75, and then .
• we'll look to see if we can challenge the recent highs from the month of May. .
• Looking at what worked yesterday and what .
• didn't work, well, nothing worked in the Canadian market. .
• Biggest loser was health care followed by energy, followed by info tech. .
• In the US, info tech actually lost the least amount. .
• Those big cap tech stocks are still holding the market up. .
• Biggest loser in the US on Thursday was the energy sector. .
• We did see the QQQ's pull back into the channel. .
• They were down just a little over three quarters of a %. .
• On Friday, we're looking for a close below 363.47 to give us a sell signal. .
• Semiccondctors gapped lower yesterday, sitting right on the lower channel line. .
• So we're looking for a close below 214.09 .
• on Friday to give us a sell signal for the chip sector. .
• Lots of areas of the technology sector have rolled over, whether you're looking .
• at robotics or AI, they have rolled over already. .
• We're just waiting for those big cap tech stocks that the market likes to follow to .
• roll over, and that has has not happened yet. .
• Canadian InfoTech is back on a sell signal as of Thursday's close. .
• We're looking at the DOW Diamond's back on a sell signal as of Thursday's close. .
• S&P 500, still looking for a close below 436.65 on Friday to give us a sell signal. .
• Then looking at the iShares for the TSX .
• 60, we closed one penny below the lower channel line yesterday. .
• So we are technically back on a sell signal as of Thursday's close. .
• Of course, the biggest loser in the .
• Canadian market on Thursday was the energy sector. .
• Looking at the iShares for the energy .
• sector, still looking for a close below $14.19 on Friday. .
• Moving on, let's take a look at the TSX most active. .
• I'm going to use the same list that we .
• used yesterday morning, which is I think more valuable for training purposes. .
• TD Bank sold off yesterday. .
• It came down to the upper channel line .
• while Bank of Nova Scotia zoomed right past the lower channel line .
• and is back on a sell signal as of Thursday's close. .
• Looking at TC Energy, we needed a close .
• below 52.35. We closed at 52.39, so just five cents away from a sell signal. .
• We've got Enbridge back on a sell signal. .
• We've got Canadian Natural Resources back on a sell signal. .
• No change for HUT 8. .
• A slight light pull back there after making a new high. .
• Then looking at Manulife, we are back on a sell signal as of Thursday's close. .
• Remember, we were watching Manulife to see if it would hold 25. .
• Once that broke, we looked for a move down to the next line. .
• We turned around, came back up. .
• What was previously support is now acting as resistance. .
• It'll be interesting to see if the market .
• will hold the low from a couple of weeks ago. .
• Looking at Crescent Point, we need a close on Friday below $8.67. No change there. .
• Algonquin Power looking for a close below $10.80 on Friday. .
• Then Osisko Gold, which was the big loser on the previous day, actually closed .
• higher on the day, having an inside day or a day of indecision. .
• Then looking at a couple of other big cap gold stocks that we looked at yesterday, .
• we've got Barrick, we closed at 21.70. We were looking for a close below .
• 21.77. So we are back on a sell signal as is Agnico Eagle. .
• Moving on to the US most active, starting off with Tesla. .
• Small pull back there, no change in trend, of course. .
• We saw a new high for Rivian. .
• The top of our projected trading range was 21.88, got as high as 21.77 yesterday. .
• And of course, there's no guarantee that .
• the top of our projected trading range is going to hold us back. .
• Then we've got NIO pulling back into the .
• channel, a close below 918 on Friday would give us a sell signal. .
• No change in trend for Carnival, small .
• pullback yesterday, closing just above the previous day's low. .
• Then looking at Lucid, .
• when you compare this chart to this chart, of course, this one's a little weaker and .
• it looks like we might be putting in a lower high. .
• We ran up, filled the open gap and have started to pull back. .
• Looking looking for a close below 6.37 on Friday. .
• Then for pull back to the upper channel line, looking for a close below .
• 14.52. Then we've got AMD still on a cell signal, no change there. .
• Close above 115.48 would give us a buy signal on Friday. .
• Then Apple pulling back intra day, but then actually closing higher on the day. .
• So looking for a close below 187.75 on Friday to give us a sell signal. .
• Once Apple and Tesla go, then the rest of the market is going to sell off sharply. .
• That hasn't happened yet. .
• Then we're looking at a marathon, a small pullback there after making a new high. .
• Then we've got Palantir trading in the .
• channel looking for a close below 14.74 on Friday. .
• Let's finish off today's presentation looking at commodities. .
• Crude oil was down slightly yesterday. .
• It is up slightly in the premarket this morning. .
• Gasoline was up yesterday. .
• Natural gas sitting right on the edge of a new daily sell signal looking for a close .
• below 7.04. We closed at 7.04. Natural gas is trading up slightly in the premarket. .
• Then the GLD was down yesterday looking .
• for a close above 179.12 on Friday to give us a buy signal. .
• No change for Palladian or for Platinum on Thursday. .
• Then silver slipped and we are looking for a close below 20.84. We closed at .
• 20.83. The SLV back on a sell signal as of Thursday's close. .
• Okay, folks, that is all for this morning's presentation. .
• Waiting for those employment numbers to come out at 8 30, and then we should .
• expect volatility to expand in the premarket. .
• Have a great day and next time you'll hear my voice is on Sunday. .