• Good morning, everyone, and welcome to Thursday morning. .
• It's Stephen Whiteside here from theuptrend.com. .
• In the pre-market this morning, things are fairly quiet. .
• Stock index futures and commodities are currently trading above fair value. .
• We do have inflation and employment numbers coming out at 8:30 this morning, .
• and that could add to the pre-market volatility. .
• The VIX is still on a sell signal that is supportive for higher stock prices. .
• That would change on Thursday if the VIX were to close above 13.78. .
• Now, we were hoping to get the US dollar index to start falling again. .
• That would be supportive for higher stock prices, but so far that's not the case. .
• The US dollar index was down slightly. .
• Yesterday, had an inside day, so no change there. .
• And bonds, we want bonds to start moving .
• up to put more downward pressure on bond yields and interest rates. .
• That's not happening at the moment. .
• If you're looking at the TLT or the XBB, where we did see money going to bonds in .
• the emerging markets and junk bonds were both up yesterday. .
• Junk bonds are actually back on a buy a buy signal. .
• So a mixed picture in the bond market. .
• Us dollar index so far not supportive for higher stock prices here, but we'll see .
• how the market reacts to those numbers coming out at 8:30 this morning. .
• Now, the DOW is still on a buy signal here up at all time highs. .
• At the same time, we still have 11 of the Dow 30 stocks on daily sell signals, and .
• we'll take a look at that in a few minutes. .
• The S&P 500 continued to move up yesterday. .
• We had the Nasdaq continue to move higher on Wednesday as well. .
• Not a lot of joy for the Russell 2000 or for the microcaps. .
• They're still on sell signals here. .
• Still both trading below the lower channel line. .
• Now, looking at the Canadian market, a .
• very quiet trading on Wednesday for the TSX composite and the TSAX 60. .
• We've got mid-caps back on a buy signal, .
• small caps still on a sell signal, and microcaps still on a buy signal here. .
• So a mixed picture. .
• In 2024, it's been the Communication .
• Services, the telecom stocks that have been holding the TSX up. .
• Now, looking at the Dow 30, 11 of the Dow 30 stocks are still on daily sell signals, .
• and we can go through those fairly quickly. .
• Still waiting for Apple to generate a buy signal. .
• American Express rolled over on Wednesday, .
• is back on a sell signal, joining Boeing already on a sell signal. .
• Then we've got Chevron, Walt Disney, .
• Dow, Honeywell, IBM, and Intel, both still on sell signals. .
• That could certainly change on Thursday. .
• Then we've got Nike still on a sell signal, no change there. .
• And last up, Walgreens Boots still on a sell signal, no change in trend there. .
• Okay, folks, that is all for this morning's presentation. .
• Waiting for those economic numbers to come .
• out to see which way the market is going to go. .
• Depending on what happens today, we've got more economic numbers coming out on Friday .
• that, again, could change the direction of the market. .
• Again, only time will how the market will react to those numbers. .
• Enjoy the rest of your day. .
• Next time you'll hear my voice is on Friday morning.. .