• Good morning, everyone, and welcome to Friday morning. .
• It's Stephen Whiteside here from theuptrend. .
• com. .
• In the pre-market this morning, ahead of employment numbers, stock index futures .
• are up across the board being led higher by the Nasdaq. .
• Now, we were expecting a jam-packed week with the Fed meeting, all the earnings .
• coming out, the economic reports, and that's exactly what we've gotten. .
• Now, the VIX is on a buy signal right now, .
• which is negative for stocks, but what we've been talking about, we really need .
• to see a breakout above 15 before we're We're going to get overly concerned. .
• Now, with all the earnings announcements, .
• the Nasdaq 100 is being thrown around hard this week. .
• It came down hard on Wednesday, giving us a sell signal. .
• It came back on Thursday with an inside day. .
• It was up $4. 91. .
• Yesterday, it is up another $4. .
• 55 in the pre-market this morning. .
• If that's the way the market ends, the day will be back on a buy signal. .
• Now, at the same time, the world's focused .
• on what's happening with technology stocks stocks in the Nasdaq. .
• The US regional bank sector is being hit hard this week. .
• Now, it's not something we talk about very .
• often, but remember, it was a year ago when Silicon Valley Bank unraveled, and .
• that put enormous downward pressure on the North American markets. .
• We've got the regional banks on a sell signal. .
• We've got US banks back on a sell signal. .
• We even have insurance companies back on a sell signal. .
• Just keep that in the back of your mind .
• while everyone is focused on technology stocks. .
• Now, the Dow is still on a buy signal. .
• The S&P 500 is still on a buy signal. .
• The Russell is still on a sell signal coming back into the channel yesterday. .
• The Microcap stocks also came back into the channel on Thursday. .
• There could be a possibility for new buy .
• signals in both of those areas of the market. .
• Now, technology stocks had an inside day. .
• Again, they're going to move up with Meta moving higher today. .
• Semiconductors had a new low for this .
• move, actually closed lower on the day on Thursday. .
• Then looking at the meta itself, it's still on a buy signal here. .
• It is up sharply in the pre-market, up over 16%, heading towards $468. .
• 75. .
• Then looking at Amazon, it is up in the .
• pre-market this morning, and it is back on a buy signal as of Thursday's close. .
• It is trading up above our projected trading range. .
• If you go to the weekly chart, you'll see .
• our next target on the weekly chart is $175. .
• Now, another stock that's up in the pre-market this morning is advanced .
• microdevices, and it is still on a buy signal, so that has not changed. .
• Now, at the same time, the world is going to be focused on meta. .
• We've got Apple trading lower in the .
• pre-market this morning, heading down towards 181. .
• 25. If we start taking out the January lows, .
• then 175 would be our next target to the downside. .
• And then Tesla. .
• Tesla was up on the day yesterday. .
• It's down in the pre-market this morning. .
• You can see it's clustering around 187. 50. .
• If we take out the January low, then 171. .
• 88 would be our next target. .
• Now, broadly enough, with the Nasdaq moving up sharply on Thursday, it was not .
• technology stocks that led the Nasdaq higher. .
• The big winner on the Nasdaq was .
• Constellation Energy, followed by Warner Brothers, followed by Dollar Tree, and .
• then followed by Amgen, and finally, Charter Communications. .
• Those were the big winners on the Nasdaq, .
• and those are not big cap technology stocks. .
• Let's finish off this This morning's .
• presentation, taking a look at the world of commodities. .
• We've got copper trading back into the channel. .
• Could that be a lower high this week? .
• We'll just have to wait and see if we could fall through to the downside. .
• We're still on a buy signal. .
• Inside day for copper miners. .
• Then looking at the price of gold, the futures contract ended the day up $3. .
• 70. .
• Yesterday, we saw the GLD continue to move higher. .
• Then we've got gold miners, whether you're looking at the big caps or the small caps, .
• they are back on a buy signal as of Thursday's close. .
• The price of silver had a wild day, traded .
• down through the lower channel line, then came back, still on a buy signal here. .
• Silver miners still on a buy signal, no change there. .
• Then looking at the energy sector, the USO and gasoline are both back on sell signals .
• as of Thursday's close, joining natural gas already on a sell signal. .
• That put downward pressure on the big cap energy stocks in the XLE. .
• It also put downward pressure on the .
• equipment makers and the explorers, all still on buy signals here. .
• And the junior small cap energy stocks .
• still on a buy signal, so no change in trend for the stocks themselves. .
• Okay, folks, that is all for this morning's presentation. .
• We do have employment numbers coming out at 8:30. .
• It could change some of the market, .
• but it looks like Metta is going to lead the Nasdaq higher on Friday morning. .
• Have a great day. Have a great weekend. .
• The next time you'll hear my voice is on Monday morning. .