• Good morning everyone and welcome to Thursday Morning. .
• It's Stephen Whiteside here from .
• theuptrend.com in the pre market this morning things are positive once again. .
• Dow future is currently up 70 points. .
• We are expecting PPI numbers to come out at 8:30 this morning. .
• And that of course could add to the volatility. .
• Yesterday we saw the US dollar collapse .
• and closed below the lows from back in April of this year. .
• So you can see we put in a lower high last week. .
• Now we're putting in a lower low this week .
• that's bearish for the US dollar, which of course is bullish for the Euro. .
• Now with the collapse in the US dollar, we .
• are expecting precious metals to continue to move up. .
• And that's exactly what happened yesterday for gold and silver. .
• And that's also what happened for gold and silver stocks. .
• Whether you're looking at the GDX or the XGD, they both popped yesterday. .
• Of course gold stocks moving up could certainly help the Canadian market. .
• And the TSX 60 is now back on a buy signal. .
• Outside of the TSX 61 of the stocks that .
• led the TSX higher was Laurentian Bank which looked like this on Tuesday and .
• ended Wednesday looking like this, up over 26% on the day. .
• Not a stock I follow, but congratulations .
• to anyone who currently owns Laurentian Bank. .
• Looking at what worked yesterday. .
• Well on the TSX, it was materials were the .
• big winners, followed by utilities and that's what utilities looked like. .
• Big update yesterday. .
• So it's back where it was four days ago and back in the channel. .
• So no change in trend. .
• Looking at the US market, did the Dow put in a double top yesterday? .
• Well two bearish reversal signals up at the same level. .
• That is maybe what happened. .
• We'll just have to wait and see. .
• The Dow is trading higher in the pre .
• market this morning ahead of those PPI numbers. .
• New high for the S&P 500, new high for the .
• Nasdaq 100 and a new high for semiconductors. .
• What worked in the US? .
• Well it was communication services .
• followed by utilities and then followed by materials. .
• So there's the communication services making a new high yesterday. .
• There's utilities still on a buy signal here, unlike Canadian utilities. .
• But they were up yesterday, not taking out the high from last week. .
• But we'll have to see if we can do that on Thursday. .
• Now looking at those big cap tech stocks .
• that we love to follow, Amazon is back on a buy signal, but Apple is not. .
• So we need to close above yesterday's high .
• on Thursday to get Apple back on a buy signal. .
• Similar situation for Alphabet which .
• traded up to the upper channel line yesterday but did not close above it. .
• Meta on the other hand broke out to a new high on Wednesday. .
• We have Microsoft still on a sell signal that would change on Thursday with a close .
• below above $339.15. Then looking at Nvidia new high for Nvidia. .
• And then we've got Shopify back on a buy signal on both sides of the border. .
• And then last up, Tesla. .
• Very quiet day for Tesla. .
• Still on a buy signal here. .
• No change in trend. .
• Okay, folks, that is all for this morning's presentation. .
• I wanted to get this out before the PPI numbers come out. .
• We're also getting jobless claims at 830 this morning, so both of those could .
• certainly add to pre market volatility on Thursday morning. .
• Enjoy the rest of your day. .
• Next time you'll hear my voice is on Friday morning. .