• Good morning, everyone, and welcome to Wednesday morning. .
• It's Stephen Whiteside here from theuptrend.com. .
• In the premarket this morning, stock index futures are above fair value. .
• Now, yesterday morning, we were waiting for CPI numbers to come out. .
• This morning, we're waiting for retail sales and PPI numbers to come out, and so .
• they could also add some premarket volatility. .
• The VIX made a new low yesterday. .
• Stock indexes made a new high for this move. .
• On Wednesday, we're looking for a close on the VIX above 16.36 to change everything. .
• So far, it does not look like that's going to happen. .
• The US dollar index dropped sharply yesterday. .
• Bond prices moved up, which put downward .
• pressure on bond yields, and that set the stock market on fire. .
• Huge move up for regional banks and US banks on Tuesday. .
• They led the market higher. .
• The Dow made a new high for this move. .
• The S&P 500 made a new high. .
• The Nasdaq made a new high for this move, .
• trading up to from back in July of this year. .
• 390. 63 is our next target. .
• Hopefully, you've taken money off the table on all of these as they've moved up. .
• The Nasdaq is now up at the top of the panic zone, so we wouldn't be surprised if .
• it needed to take a break up at these levels. .
• Semiconductors popped yesterday. .
• Everybody had a good time. .
• A lot of short covering on Tuesday. .
• There's microcap stocks. .
• Not only did they gap higher, but they .
• gapped up above the recent high from two weeks ago. .
• Then looking at the Ishares for the .
• TSX 60, we gapped higher yesterday, filled the open gap. .
• If you had an order at 30. .
• 47 or around there that got filled yesterday. .
• Now we're looking to see if we can move up to 30. .
• 86. Then what worked on the TSX today? .
• Well, REITs were the big winners followed by Gold stocks. .
• No buy signals just yet. .
• Looking for a close on Wednesday above 16.90. Then we've got the Global Base .
• Metals back on a buy signal as of Tuesday's close. .
• We've got Utilities already on a buy signal moving up yesterday, and then .
• Canadian Fnancials moving up nicely on Tuesday. .
• Looking at the New York most actives from Tuesday's trading action, leading off with .
• Tesla, Tesla is moving up towards the top of that open gap at 242.08. .
• Then we've got a new high for Palantir. .
• It's trading up to the 20.31 level, got as high as 20.10 yesterday, .
• so we should be able to hit that today if you had an order in at 20.31. Then Plug .
• Power, no joy there, still on a sell signal. .
• We've got Ford back on a buy signal as of Tuesday's close chasing Bank of America, .
• making a new high for this move heading towards 29.69 is our next price target. .
• Advanced Micro Devices making a new high for this move, but giving most of it up .
• going into the close, trying to get to 125. .
• That's our next target. .
• And it looks like we're having trouble pulling away from 118. .
• 75. .
• We are up at the high from back in July .
• there, so that could be holding us in check at the moment. .
• That Apple made a new high for this move, .
• hit our 187.50 target yesterday and is trying to head towards that open gap. .
• The high from back in late August is 189.98. That could be a target and a .
• potential area of resistance if we can move up from 187.50. Then above that, .
• you've got the open gap from back in late July at 190. .
• 69. .
• Let's finish off looking at the TSX most active and Embridge pulled back. .
• It's sitting right on the edge of a new daily sell signal. .
• Canadian Natural Resources is back on a buy signal. .
• Remember, this is a high risk buy signal. .
• You're up at the top of the range here. .
• Then Cenovus was actually down on the day, so no change in trend there. .
• We've got Magna moving up nicely .
• yesterday, so looking to take out the high from a couple of weeks ago. .
• $75 leads us to 78.13 if we can take out that high. .
• Then we're looking at Suncor, second day of a buy signal, but we had a pullback. .
• Again, these are high risk buy signals up at these levels. .
• Then looking at Manulife, new high for this move for Manulife, you can see the .
• open gap was filled and our next target to the upside is .
• 26.56. But notice that we put in a lower high back here in September. .
• So lots of resistance up there at 26.56, the air is getting rather thin. .
• Then Algonquin Power is on a buy signal right now. .
• If we can break away from 7.81, 8.59 would be our next target to the upside. .
• Then Crescent Point. .
• No joy for Crescent Point trying to hold support here at the 9.60 level. .
• And then we've got Shopify making a new .
• high for this move, running right back up to the high from late August. .
• You can see that our next mathematical .
• target is 93.75. We got up to that level back in July. .
• Then looking at Great West Life, new high .
• for Great West Life, our next mathematical target is 42.58. And that stock has had a .
• very nice move over the past couple of weeks. .
• Okay, that is all for this morning's presentation. .
• We'll have to wait for those economic .
• numbers to come out at 8:30 to see which way the market is going next. .
• This has been a great run. .
• Hopefully, you've been locking in some profits along the way. .
• We don't need to ever completely liquidate .
• a position until we actually get kicked out. .
• Nobody's getting kicked out on Wednesday morning, but it is the time and place to .
• make sure you've taken some money off the table. .
• Have a great day, folks. .
• Next time you'll hear my voice is on Thursday morning. .