• Good morning, everyone, and welcome to Thursday morning. .
• It's Stephen Whiteside here from TheUpTrend. .
• com In the pre-market this morning, stock index futures are above fair value. .
• Commodities are mixed with crude oil, .
• lower, while gold is higher by $3 in the pre-market. .
• Now, we do have a lot of economic numbers .
• coming out at 8:30 this morning, including retail sales and jobless claims, and that .
• could certainly add to the pre-market volatility. .
• Starting off, looking at the VIX, which spiked sharply sharply higher on on .
• Tuesday, and we pulled back on Wednesday, had an inside day. .
• So on Thursday, we're looking for the VIX to close below 13. .
• 21 to put us back on a bullish footing. .
• We still have the S&P 500, Nasdaq 100 on buy signals. .
• They recovered nicely on Wednesday, but .
• still pretty close to generating a daily sell signal, so we should be on guard. .
• Looking at the Canadian market, the market .
• recovered quite nicely on Wednesday, not enough to give us new buy signals for the .
• The TSX, the TSX 60, mid-caps, small-caps, or micro-caps. .
• Now, looking at the sector performance .
• from Wednesday's trading action, all sectors were positive for the day, being .
• led higher by Infotec, and We're still on a sell signal here. .
• We came down hard on Tuesday, and we did trade back into the channel on Wednesday. .
• The biggest winners in the sector on Wednesday were Bitfarm and Hut8. .
• Those were the two best-performing Infotec stocks. .
• Then looking at the industrials, dipped into the channel on Tuesday. .
• Big recovery on Wednesday, .
• being led higher by the railroads, still both on buy signals. .
• Then looking at consumer staples, huge update there. .
• It was Circle K led the pack, followed by .
• Loblaw's, which is back on a buy signal as of Wednesday's close. .
• Looking at the world of commodities, .
• starting in the energy sector, we saw crude oil pull back yesterday. .
• It's pulling back again in the pre-market. .
• Not enough to It's going to give us a sell signal today. .
• And then we've got natural gas making a new low on Wednesday. .
• So both of those commodities did not help .
• the energy sector, and we did have an inside day closed unchanged on the day. .
• So for the energy ETF, we're looking for a close on Thursday below $15. .
• 14. .
• Then looking at the miners, starting with the price of gold. .
• Gold is trying to hold 2000 here. .
• If we break that, then 1937. .
• 50 would be our next target to the downside. .
• And silver is trying to hold $22 and traded and closed higher yesterday. .
• Still on a sell signal, no change there. .
• No change for gold stocks, which made a .
• new low yesterday, and the ETF closed down just a penny on the day. .
• So a little bit of a recovery there. .
• The first time something new is happening, of course, if we close above the previous .
• day's high, and we certainly didn't do that yesterday. .
• Okay, folks, that's all for this morning's presentation. .
• I'm doing this ahead of the big economic numbers coming out at 8:30 this morning, .
• and they could certainly change the direction of the market. .
• But so far, it looks like the market wants .
• to have a positive open on Thursday morning. .
• Enjoy the rest of your day. .
• Next time you'll hear my voice is on Friday morning. .