• Hey, good morning, everyone. .
• Welcome to Friday morning. .
• It's Stephen Whiteside here from theuptrend.com. .
• Well, we finally got a sell signal in .
• Apple, and it was a big one that we actually gapped lower, came down to .
• support, and currently holding support at 175. .
• If we take out the August lows, then 168. .
• 75, 162. .
• 50 come into play. .
• Now, the reason that Apple fell yesterday was because of news out of China. .
• Chinese stock market not doing well at the present time. .
• When you look at the chart of anything Chinese-related, you're going to see a lot .
• of white spaces, you're going to see a lot of gaps. .
• Anytime that you're tracking something from overseas, whether it's in Europe or .
• Asia, the information sources are all out of those areas. .
• There's always a delayed reaction to whatever happens. .
• You're never going to see a very smooth chart, lots of big gaps. .
• It's very, very hard to trade anything listed overseas. .
• Then looking at the VIX, the VIX traded through the upper channel line yesterday, .
• but actually closed slightly lower on the day, looking for a close on Friday above .
• $15.41 to give us a buy signal for the VIX. .
• That, of course, would be negative for stocks. .
• And yesterday was an inside day for the Dow. .
• The S&P 500 traded through the lower .
• channel line, still looking for a close below 444.30 on Friday. .
• And then for the Nasdaq 100, we bounced .
• off the lower channel line looking for a close below 369.94. Now, .
• semiconductors are back on a sell signal as of Thursday's close. .
• Invidea is back on a sell signal as of Thursday's close. .
• The Russell 2000 is back on a sell signal, joining micro caps .
• already on a sell signal starting to break down below the August lows. .
• So we have a new lower high and a lower low. .
• That, of course, is bearish. .
• And, of course, when people are getting .
• out of the microcap sector, that is the risk of trade. .
• Looking at the energy sector, we put in a high three days ago. .
• That gave us a bearish reversal signal. .
• So far, no major breakdown here, but that high is still in place. .
• Looking at the Canadian market, the TSX .
• and the TSX60, we saw the market trade down to the lower channel line. .
• So a close below yesterday's low for .
• either of those would give us a sell signal on Friday, which would join mid .
• caps and small caps already on a sell signal. .
• And oddly enough, we saw a little buying .
• in the venture exchange, which closed higher on Thursday. .
• Looking at the Canadian energy sector, .
• similar pattern to what's happening in the US. .
• Yesterday was an inside day or a day of indecision. .
• Then financials have rolled over, as have the banks. .
• So financial index back on a sell signal as of Thursday's close joining the banks, .
• which generated a sell signal on Wednesday. .
• In both cases, we're heading towards those August lows. .
• And if we want to be bullish here, we want those lows to hold. .
• If we want to be bearish, we want those lows to break. .
• Looking at gold, gold stocks had an inside day yesterday. .
• It was fairly quiet for gold, but not for silver. .
• Industrials came down hard, so they're looking to challenge the August lows. .
• Then we saw a lot of volatility in the information technology sector. .
• You can see they tried to fill the gap on .
• the way down and then came back, still closing slightly lower on the day and .
• really in sync with Shopify, not in sync with BlackBerry, which tumbled yesterday. .
• If you were trading BlackBerry, we go back .
• to when we got a buy signal on that day, on the next morning, you would have bought .
• at 6:21, that was the opening price or around there. .
• It's no guarantee you're going to get the .
• exact opening price, but let's say you bought at 6.21, you looked up, your .
• trading plan was to sell half at 6.64, then half of the remaining .
• position at 7.03, then half of the remaining position at 7.42. That's what .
• you were supposed to do, and that's what happened. .
• Yesterday, when the stock collapsed, you .
• were sitting with a very small position, already locking in a lot of profits. .
• Yesterday, we closed at 6.37, so still above the price that you bought in at. .
• It's still a profitable trade when you exit at the open on Friday morning. .
• Let's finish off with commodity prices. .
• It was an inside day for crude oil on Thursday. .
• We saw natural gas make a new low before closing slightly higher on the day. .
• This is not a very bullish chart at all as yesterday was a new lower low. .
• Then looking at copper, we're back on a .
• sell signal for copper joining joining gold. .
• Gold had an inside day on Thursday, so very quiet trading for gold on Thursday, .
• unlike silver, which continued to move lowers. .
• Okay, folks, that is all for this morning's presentation. .
• We posted over 15,000 charts last night, .
• and this is just, of course, some highlights. .
• I always short-change somebody. .
• I can't cover all the stocks in this presentation every morning. .
• I just try to hit on the major highlights that could affect the most people. .
• Sorry about missing your stock, but that's just the way things are. .
• If you want me to look at your stock, of .
• course, send me an email and I'll be glad to consider it. .
• But definitely, I'm short-changing somebody every single morning. .
• Stock index futures are below fair value right now. .
• There are no major economic numbers coming out on Friday morning. .
• So far, it looks like the market wants to do a little selling at the open. .
• Enjoy the rest of your day, enjoy your .
• weekend, and the next time you'll hear my voice is on Sunday. .