• Good Morning, everyone, and welcome to Thursday morning. .
• It's Stephen Whiteside here from theuptrend. .
• com. .
• In the pre market this morning, stock index futures are higher across the board, .
• being led higher by the Nasdaq, and the Nasdaq is being led higher by Meta. .
• Now, the DOW continued to move higher on .
• Wednesday and continued its record breaking streak. .
• Now, we're back hitting the record books from 1987. .
• If you don't remember, we had a nice big major crash in 1987. .
• It'll be interesting to see if we can end .
• the year without a major pullback like that. .
• Now, I'm more interested in the DOW Transports than the DOW itself. .
• The DOW Transports continue to move higher, up nearly 3 % on the day. .
• Now, in the pre market this morning, Meta .
• is trading up above the upper channel line. .
• If it ends the day up there, of course, that would generate a new buy signal. .
• It'll be interesting to see if Meta can .
• trade and hold levels above the recent high. .
• Mcdonald's is also trading higher in the premarket this morning. .
• If it ends the day where it's trading .
• right now, that would give us a new daily buy signal. .
• Notice the resistance across the top of the screen. .
• We made a high back in May and have tried .
• several times to break out above that high. .
• It'll be interesting to see how traders handle that on Thursday. .
• And for Canadian investors, Celestica, .
• which trades in New York, is up nearly 30 % in the premarket. .
• So we're looking for a Celestica to pop on the TSX on Thursday. .
• Looking at the VIX, the VIX is still on a .
• sell signal that, of course, is supportive for higher stock prices. .
• Things would change on Thursday with a close above $14.18. .
• Now, the Fed made their proclamation yesterday and not a lot of movement in the .
• bond market whether you're looking at the TLT. .
• If you're looking at emerging market bonds .
• or the junk bonds, they traded back to where they were trading on Monday. .
• So some selling going into the Fed meeting .
• and then they bought them all back on Wednesday. .
• Looking at currencies, the US dollar index .
• pulled back yesterday back in the channel and the Euro traded up into the channel. .
• No change in trend for either currencies. .
• Then looking at the major indices, the SPY was up yesterday just by seven cents, but .
• it's trading higher in the pre market this morning. .
• The Nasdaq traded down to the lower channel line. .
• It's been in the channel for the last .
• four trading days and of course, that's neutral. .
• The Nasdaq is trading higher in the .
• premarket this morning, so not overly concerned about a sell signal on Thursday. .
• And then looking at semiconductors, they're also trading higher this morning. .
• Semiconductors still on a sell signal. .
• That had something to do with Texas Instruments yesterday. .
• Generally, stocks fall faster than they .
• rise, and that's why we like you to lock in profits as a stock is rising. .
• And of course, you don't have to liquidate all of your profits. .
• If you've been trading Texas instrument, .
• of course, you're coming into today's trading action with a partial position .
• left, so you should be able to end this trade with a profit or at least break even .
• depending on how you traded Texas Instruments. .
• Looking at Advanced Micro Devices, just .
• treading water here, still on a sell signal. .
• Nvidia, still treading water, still in the channel. .
• So looking for a breakout or a breakdown on Thursday. .
• Looking at the Canadian market, the TSX .
• dipped lower yesterday and then ended the day higher by a penny. .
• And of course, I'm referring to the ishares for the TSX 60. .
• Now looking at financials in New York, we .
• traded up being led higher by banks and being led higher by the regional banks. .
• Then looking at broker dealers, they treaded water on Wednesday and we saw US .
• insurance companies continue to move higher. .
• And then Canadian financials traded higher on Wednesday, not taking out the previous .
• day's high, whether you're looking at financials or banks, .
• but at least they didn't continue to move lower on Wednesday. .
• Let's finish off today's presentation taking a look at what worked on Wednesday. .
• Starting on the TSX, Rogers popped. .
• It's back on a buy signal as of Wednesday's close. .
• It traded above the June highs. .
• It would be nice to see if we could close above them. .
• Then First Quantum dipped into the channel .
• yesterday, then ran right up to the previous day's high. .
• And Canadian Pacific is trading back up at the May high. .
• So now it's a make or break time. .
• Do we break out to higher highs or is the May high going to act as resistance? .
• Then on the DOW, it was Boeing that .
• popped, gave us a buy signal on Monday, popped on Wednesday. .
• There's 3M continuing to move higher as we see Home Depot doing the same thing. .
• Then on the Nasdaq 100, it was old Dominion Freight. .
• So one of those DOW transport components .
• followed by Alphabet back on a buy signal as of Wednesday's close. .
• Then ADP making a new high for this move. .
• And last up, we're looking at the winners on the S&P 500. .
• Again, it was a transportation component, .
• Union Pacific, followed by the regional banks, Zions, and Key Corp. .
• Okay, folks, that is all for this morning's presentation. .
• Somebody was asking about an Ursa picture .
• the other day, so here's one that we took this week. .
• She's doing really well and she's going to have her fourth birthday in September. .
• In enjoy the rest of your day. .
• Next time you'll hear my voice is on Friday morning. .