• Good morning, everyone, and welcome to Thursday morning. .
• It's Stephen Whiteside here from T .
• heUpTrend.com In the premarket this morning, things are fairly quiet. .
• Both the stock index, futures, and .
• commodities are trading right around fair value. .
• We are waiting for employment numbers to come out at 8:30 this morning, and they .
• could certainly add to the premarket volatility. .
• Now looking at the VIX, the VIX is still .
• on a daily sell signal that's supportive for higher stock prices. .
• That would change on Thursday with a close of above 13.60. .
• Now the Nasdaq did end Wednesday on a daily sell signal, and that had something .
• to do with Big Cap Tech stocks like Apple and Amazon pulling back on Wednesday, but .
• it had a lot more to do with energy stocks, which were down sharply. .
• You can see Constellation Energy down nearly five % on the day. .
• Energy stocks continued to move lower on .
• Wednesday on the back of lower crude oil and natural gas prices. .
• If we look at the iShares for the TSX .
• Energy Sector, we were looking to see if support at 16 would hold. .
• As you can see, yesterday, we crashed right through that. .
• We also made lower lows for U.S. .
• Energy stocks on Wednesday. .
• Now looking at the TSX, it got pulled down .
• with weakness in energy stocks and we made an outside reversal on Wednesday. .
• We are one day away from a new daily sell .
• signal if the market wants to continue lower from here. .
• Now last week, we were looking at the .
• energy bullboard and looking at the stocks that people were following. .
• We see Baytech making a new low for this move. .
• We see Crescent Point making a new low and Athabasca making a new low. .
• We do have Valeura Energy back on a sell .
• signal as of Wednesday's close, joining the big caps, Cenovus Energy, and .
• Suncor, which were down again yesterday with Suncor down over five and a half %, .
• which is quite a large move for that stock. .
• Okay, that's all that I wanted to cover this morning. .
• We're waiting to see those employment numbers come out. .
• Otherwise, the major indices for the most .
• part are still on buy signals, and we've had no major sign of weakness so far. .
• Enjoy the rest of your day. .
• Next time you'll hear my voice is on Friday morning. .