• Good morning, everyone, and welcome to Friday morning. .
• It's Stephen Whiteside here from theuptrend.com. .
• In the pre-market this morning, stock index futures and crude oil are below fair .
• value, while gold is trading higher, about $5 in the pre-market on Friday morning. .
• Now, we do have some economic numbers coming out at 8:30 this morning that could .
• certainly change the direction of the market. .
• Now, yesterday, Boeing was a big drag on .
• the Dow, and it did dip through the $200 level but did not close below it. .
• It is continuing to trade above $200 in .
• the pre-market, and so it'll be quite a tell if a Boeing .
• starts breaking down below 200 heading towards those lows from last October. .
• At the same time, Boeing was going down, IBM was going up. .
• You don't see this very often. .
• IBM gapping sharply higher yesterday, up nearly 10% on the day. .
• Again, that has not happened for a long time. .
• Now, what the market is worried about this morning is Intel. .
• Intel is coming into Friday's trading action on a buy signal. .
• It may end the day on a sell signal, .
• currently trading down over 10% in the pre-market. .
• Now, just looking at what's happened this week for the S&P 500 SPY, we're up 1.16%. .
• For the Nasdaq 100, we're up 1.23%. For the TSX-60, we're up 0.84%. At the same .
• time, we've got crude oil up over 5% on the week, and this could be turnaround .
• time for crude Well, natural gas, on the other hand, down over .
• 3% so far this week, while gold is down a little over half a % on the week. .
• That could change on Friday with gold trading higher in the pre-market. .
• Let's get back to some daily charts, starting with the VIX, which traded up .
• into the channel on Thursday, looking for a close on Friday above .
• 13.92. Of course, if that were to happen, that would be negative for stocks. .
• The DOW is on a buy signal right now, but .
• just treading water up here, so it could be the first major indices to roll over. .
• The S&P 500 had a new closing high while having an inside day, a day of indecision. .
• The Nasdaq 100 also had a new closing high, but actually, dipped below the .
• previous day's low during the trading session. .
• So could be a sign of weakness there with the semiconductors trading down over 1% on .
• Thursday, closing below the previous day's low. .
• That is a bearish-looking bar. .
• Then looking at the TSX-60, we closed higher on Thursday. .
• No change in trend there. .
• We've got the financials back on a buy signal moving up on Thursday. .
• Onyx was the big winner in the TSX financials. .
• While bank stocks are still treading .
• water, the Royal Bank was actually unchanged on the day yesterday, while .
• we've got the TD Bank back on a buy signal for the second day. .
• Energy stocks were the big winners on Thursday, being led higher by the US .
• energy sector, up over 2% back on a buy signal, being led higher by Valero. .
• On the TSX, we are back on a buy signal, .
• and the big winner was Meg Energy, up over 4%. .
• Then moving on to the US most actives, and these are the price volume weighted most .
• actives with the Tesla Gaping lower yesterday. .
• We talked about that, certainly closing .
• well below $200 at $182.63. Then we had an inside day for NVIDIA and .
• closing, new closing high for NVIDIA, new closing high for Advanced Micro Devices. .
• Apple's looking pretty sluggish up here. .
• It's still holding the $193.75 level, but it's not looking like it wants to move .
• higher at the moment, which is unfortunate with $200 our next price target. .
• Then looking at Microsoft, new closing high there. .
• Big down day for United Health already on a sell signal, so no change in trend. .
• No change in trend for Humana, gapping lower as well. .
• So congratulations if you're short either of those stocks. .
• Then we've We have Costco sitting right on the edge of a new daily sell signal. .
• That would happen on Friday with a close .
• below $677.74. And then CVS gapped lower yesterday .
• already on a sell signal, so certainly no change in trend. .
• Moving on to the TSX, Most Active. .
• Again, these are the price volume weighted most actives. .
• And Royal Bank unchanged on Thursday. .
• Things would change on Friday with a close .
• above $133.68. Then we've still got Bank of Montreal on a buy signal. .
• No joy for the Bank of Nova Scotia, still on a sell signal. .
• Then we've got Fairfax closing higher yesterday. .
• We've got Shopify still on a buy signal. .
• That would change on Friday with a close below $105 and 84 cents. .
• Then we've got the TD Bank, second day of a buy signal there. .
• We've got Embridge still on a sell signal. .
• No change. .
• We've got Suncor back on a buy signal as of Thursday's close. .
• We've also got Canadian Natural Resources back on a buy signal as of Thursday's .
• close, and then a new closing high for Manulife. .
• BCE rolled over yesterday, so it is back on a sell signal as of Thursday's close. .
• Okay, folks, that is all for Friday morning's presentation. .
• So far, it looks like we may see some .
• selling at the open on Friday morning, but those economic numbers coming out at 8:30 .
• could certainly help change the direction of the market. .
• Have a great day, folks. Have a great weekend. .
• Next time you'll hear my voice is on Monday morning. .