• Good morning, everyone, and welcome to Friday morning. .
• It's Stephen Whiteside here from theuptrend.com. .
• Well, in Thursday's trading action, not .
• only did we get a Tesla sell signal, we also got a Meta sell signal. .
• On Thursday, we saw a big spike in the VIX. .
• We also saw the US dollar make a new high, .
• and we saw all the bond yields pop yesterday. .
• That's probably not good for the economy .
• and possibly not good for the stock market either. .
• We'll just have to wait and see. .
• The DOW has traded back down to the August .
• lows, unlike the S&P 500, which broke through them yesterday. .
• Our next mathematical target is 421.88. .
• Then the Nasdaq is holding up a little better, still trading above the August .
• lows, unlike the semiconductors, which broke down a few days ago, the iShares for .
• the Russell 2000, microcap stocks all well below those August lows. .
• Then looking at the TSX, the iShares for the TSX 60 were down sharply, one of the .
• biggest drops we've seen in a long time for the TSX on Thursday. .
• We've got financials that rolled over. .
• One of the biggest reasons the TSX was down sharply yesterday, energy stocks, .
• second day of a sell signal, and then gold stocks traded down to the lower channel .
• line but did not generate a sell signal just yet. .
• Next up, let's take a look at the TSX most actives and a whole bunch of new sell .
• signals here, including for TC Energy, which joins Canadian Natural Resources, .
• which has been on a sell signal for over a week now. .
• Then PowerCorp came down and generated a sell signal. .
• Not a stock we usually see at the top of .
• the most active list, but notice the lower high here. .
• That's a bear sign going forward. .
• Cenovus, a second day of a sell signal for Cenovus . .
• TD Bank came down hard back on a sell signal. .
• Lundin Mining has been on a sell signal all week. .
• Then we've got Suncor back on a sell signal as of Thursday's close. .
• Then Bank of Nova Scotia came down hard yesterday back on a sell signal. .
• We've got Manulife Financial back on a sell signal. .
• I was talking about how well the insurance companies have done over the past month, .
• and that has come to an end as of Thursday's close. .
• Pembina Pipeline down hard yesterday. .
• It looks like it came down a lot, but it's only 1.82 %. .
• It's just the way this particular stock trades that makes it look like it was a .
• huge move down, but in percentage terms, not too bad. .
• Unlike Air Canada, which was down another .
• 2.34 %, so Air Canada has been on a sell signal since the middle of July. .
• Let's finish off this morning's presentation, taking a look at the most .
• actively traded US stocks from Thursday's trading action, starting with Tesla. .
• Tesla back on a sell signal as of .
• Thursday's close, joining Palantir, which traded down to the August lows yesterday. .
• Then we had a big gap down for Amazon, which has now filled the open gap from .
• early August, and at the same time creating a new gap .
• that we'll have to deal with on the way back up. .
• Apple moved lower yesterday, still on a .
• sell signal here, trading slightly higher in the premarket this morning. .
• Then a new low for Advanced Micro Devices and a very bearish chart. .
• Since we peaked back in June, we've made a series of lower highs. .
• And so that is, of course, a very bearish chart pattern. .
• NIO has been on a sell signal since early August. .
• No change there. .
• A fairly quiet day for Intel yesterday compared to a lot of other stocks. .
• Nvidia made a new low for this move, still holding on to the August lows. .
• If those break, then 375 would be our next target. .
• Then 375 would take us down to the top of .
• an open gap, and the bottom of that gap is down here, the 3.12.50 area. .
• That would be quite a move down for not .
• only NVIDIA, butfor the overall stock market, if that were to happen. .
• Ford is back on a sell signal as of Thursday's close. .
• And then one of the DAO components, Cisco, gapping sharply lower yesterday. .
• And of course, we filled a gap yesterday so that is no longer in play and we can .
• continue to move lower from here on Friday. .
• Then American Airlines, just like Air Canada, has had a rough couple of months. .
• This sell signal started back in July. .
• And then last up, we're looking at Meta. .
• Meta is back on a sell signal, joining the rest of its big cap tech stock brothers. .
• And we're all back on the sell signal as of Thursday's close. .
• Okay, folks, that is all for this morning's presentation. .
• Have a great day. .
• Next time you'll hear my voice is on Monday morning. .