• Good morning, everyone, and happy Friday. .
• It's Stephen Whiteside here from TheUpTrend. .
• com In the pre-market this morning, stock .
• index futures and gold are above fair value while Crudol is pulling back just a .
• few cents in the pre-market on Friday morning. .
• I thought this was going to be a make or break week, and I really thought the .
• market was going to end up looking like this. .
• This is a weekly chart of the SOX index or .
• the semiconductor index, and you can see we're starting to break down. .
• We're currently trading trading and closing below the previous week's low and .
• down a little over three and a half % for the week. .
• Now, the SOX index is more volatile than .
• most other indexes, so down three and a half % is not a significant drop. .
• But as you can see, we are trading and closing below the previous week's low, so .
• that could turn out to be significant depending on how Friday ends. .
• Now, so far for the major US indices, it's an inside week or a week of indecision. .
• You can see the S&P 500 is up half a % trading within the previous week's range. .
• And then that is also true for the Nasdaq .
• 100, which is basically unchanged on the week. .
• So nothing going on there. .
• Nvidia is also having an inside week and is basically unchanged for NVIDIA. .
• It's up just under half a %, which is really not that significant for NVIDIA. .
• Then looking at the TSX, on the other hand, it's making new highs this week. .
• That has a lot to do with crude oil. .
• It's up over 4 % so far this week. .
• We've got copper up nearly 4 %. .
• Gold is pulling back a bit, but not by much. .
• And this weekly chart of gold is looking fairly bullish. .
• We're making higher lows and higher highs, .
• and that could turn out to be significant going forward. .
• But so far, we are seeing a small pullback in the price of gold, just down $18. .
• We're up a couple of dollars in the pre-market on Friday morning. .
• Now, the stock market indices lost their way on Thursday, and that might have .
• something to do with what happened in the bond market. .
• There's the TLT and the XBB, both gapping lower on Thursday. .
• We saw selling in the 30-year bond, and .
• that put upward pressure on bond yields, and that might have been .
• what was putting downward pressure on the stock market on Thursday. .
• Now, looking at the most actives from .
• Thursday's trading action, starting off in the US market, we saw Soundhound hitting a .
• new high yesterday before pulling back, going into the close. .
• Then we had a new low yesterday for Tesla. .
• Tesla getting some downgrades recently. .
• Advanced Micro Devices on a sell signal, .
• and we're coming down to an area of a lot of congestion and potential support. .
• We'll have to see if that support holds. .
• Then Apple traded into the channel yesterday, so a close above 175. .
• 17 would give us a new buy buy signal on Friday. .
• It looks like the 168. .
• 75 held in the market in check. .
• Now we're looking to see if 175 acts as .
• resistance or if we can start to punch through it. .
• So far, made a new closing low for this move on Thursday. .
• New closing low for Marathon. .
• Then we had NVIDIA trade and closing the channel. .
• So a close below $845. .
• 03 would give us a new daily sell signal for NVIDIA on Friday. .
• Rivian rolled over yesterday. .
• It's back on a sell signal, so that didn't last very long. .
• Then we still have Ford on a sell signal. .
• No change there. .
• And then Robinhood made a new high for .
• this move on Thursday, trading up to the $19 level before pulling back. .
• And then last up for the US market, .
• Palantir, back on a sell signal as of Thursday's close. .
• And then moving on to the TSX, most actives from Thursday's trading action. .
• Inside day for Canadian Natural Resources. .
• And then a new high for Suncor. .
• Lundin Mining put in a new high as well. .
• Then looking at Embridge. .
• We pulled back into the channel, closing just above the upper channel line. .
• So mathematically, we have the potential .
• for a new sell signal on Friday with a close below $54. .
• 04. .
• Then BCE gapped lower on Thursday, making a new low for this move. .
• Bank of Nova Scotia, we need a close on Friday below $66. .
• 55. .
• For the TD Bank, we're looking for a close on Friday below $80. .
• 89. .
• And then for Pembina, we're looking for a close on Friday below $47. .
• 40. .
• Made a new high on Wednesday, then gapped lower on Thursday. .
• And then Cenovus made a new high on Thursday. .
• No change in trend there. .
• And then CIBC, we're looking for a close on Friday below $65. .
• 70. .
• Okay, folks, that is all for this morning's presentation. .
• Have a great day. .
• Have a great weekend. .
• Next time you'll hear my voice is on Monday morning. .