• Good morning, everyone, and welcome to Wednesday morning. .
• It's Stephen Whiteside here from theuptrend.com. .
• In the pre-market this morning, things are fairly quiet. .
• We don't have any major economic numbers coming out this morning. .
• On Thursday and Friday, we've got huge numbers, PPI, CPI numbers coming out, and .
• they could certainly add some volatility to the market. .
• Now, we're getting some bullish signs here. .
• We're getting some bearish signs. .
• The VIX continue to move lower. .
• It is back on a sell signal as of Tuesday's close. .
• That's bullish for the market. .
• We've also got the Nasdaq VIX back on a sell signal as of Tuesday's close, and .
• we're still waiting for the VIX for the Russell 2000 to generate a sell signal. .
• So the VIX is pointing down, which is bullish for the stock market. .
• Now, what isn't working? .
• Well, the US dollar index moved up yesterday. .
• That's not good for stocks. .
• We also saw bond yields move up yesterday. .
• The TLT had an inside day, was down on the day. .
• The XBB had an inside day, was up slightly on the day. .
• So no major change for currencies or bonds. .
• We want the US dollar to go down. .
• We want bonds to go up. .
• That's not happening at the moment. .
• The DAO had an inside day on Tuesday. .
• Of course, an inside day is a day of indecision. .
• The big winner on the DOW yesterday was Merck continuing to move higher. .
• The big loser on the DOW yesterday was .
• Verizon, still on a buy signal, no change in trend. .
• Now, looking at the S&P 500, we closed .
• down on the day and we're trading a little lower in in the pre-market. .
• We still closed above the upper channel .
• line, so that's a very mixed picture right now. .
• Again, I wouldn't get overly excited about the market at the moment. .
• Juniper Networks was the big winner on the .
• S&P 500 yesterday, up over 20%, and then the big loser was Hewlett-Packard .
• Enterprise down sharply on the day, back on a sell signal as of Tuesday's close. .
• Looking at the Nasdaq, the Nasdaq moved up yesterday, closed above the upper channel .
• line, so that's a new buy signal for the triple Qs. .
• The big winner on the Nasdaq 100 was CrowdStrike. .
• The biggest loser was Moderna, having an inside day, so no change in trend there. .
• Then looking at the iShares for the .
• TSX-60, an inside day on Tuesday, closing down slightly on the day. .
• The big winner on the TSX-60 was Cameco, .
• and the big loser was the TD Bank, back on a sell signal as of Tuesday's close. .
• What worked on the TSX composite, K92 Mining was the big winner. .
• Up nearly 10% on the day. .
• And the big loser, back on a sell signal, is Tillray, down nearly 10%. .
• Now, the best performing sector in North .
• America on Tuesday was actually Canadian Infotech, up a tick over 1%, and that had .
• a lot to do with Shopify, which was up over 3% on the day. .
• Okay, folks, that is all for this morning's presentation. .
• It's a very mixed picture. .
• The fact that the major indices are now all back on buy signals and the VIX back .
• on a sell signal should make me very bullish. .
• At the same time, the bond market, the .
• currency market, isn't really supporting a higher move at the moment. .
• We'll just have to wait and see how things work out. .
• We've got big numbers coming out on .
• Thursday and Friday, and they will certainly drive the market in a direction .
• which we really don't know what that direction is going to be right now. .
• So don't get overly aggressive this week. .
• It's not the time and place .
• to go crazy in the market, either being bullish or bearish. .
• Enjoy the rest of your day. .
• Next time you'll hear my voice is on Thursday morning. .