[{"id":"65c37d0017907","items":[{"start_time":0,"end_time":3.24,"text":"Good morning, everyone, and\nwelcome to Wednesday morning. ","speaker_tag":0}]},{"id":"65c37d001790b","items":[{"start_time":3.27,"end_time":5.72,"text":"It's Stephen Whiteside\nhere from TheUpTrend. ","speaker_tag":0}]},{"id":"65c37d001790c","items":[{"start_time":5.75,"end_time":9.6,"text":"com In the pre-market this\nmorning, things are fairly quiet. ","speaker_tag":0}]},{"id":"65c37d001790e","items":[{"start_time":9.6,"end_time":11.4,"text":"We only have one economic number coming ","speaker_tag":0}]},{"id":"65c37d001790f","items":[{"start_time":11.43,"end_time":16.22,"text":"out of any significance this morning,\nand that is international trade at 8:30. ","speaker_tag":0}]},{"id":"65c37d0017910","items":[{"start_time":16.24,"end_time":20.66,"text":"Then we have energy inventories\ncoming out later in the morning. ","speaker_tag":0}]},{"id":"65c37d0017911","items":[{"start_time":20.68,"end_time":22.8,"text":"Now, there's lots of stocks\nin the news this morning. ","speaker_tag":0}]},{"id":"65c37d0017912","items":[{"start_time":22.83,"end_time":28.8,"text":"One that I know a lot of you follow is\nFord, and Ford was up over 4% yesterday. ","speaker_tag":0}]},{"id":"65c37d0017913","items":[{"start_time":28.83,"end_time":31.28,"text":"It's up over 5% in the pre-market this ","speaker_tag":0}]},{"id":"65c37d0017914","items":[{"start_time":31.31,"end_time":35.66,"text":"morning, and it is currently\ntrading above the December high. ","speaker_tag":0}]},{"id":"65c37d0017915","items":[{"start_time":35.68,"end_time":40.22,"text":"So a new high for this move\nfor Ford on Wednesday morning. ","speaker_tag":0}]},{"id":"65c37d0017916","items":[{"start_time":40.25,"end_time":42.4,"text":"Now, the VIX moved lower yesterday. ","speaker_tag":0}]},{"id":"65c37d0017917","items":[{"start_time":42.43,"end_time":46.4,"text":"It's back on a sell signal, and we really\ndon't care too much about what the VIX ","speaker_tag":0}]},{"id":"65c37d0017918","items":[{"start_time":46.43,"end_time":50.46,"text":"does right now unless it\nstarts breaking out above 15. ","speaker_tag":0}]},{"id":"65c37d0017919","items":[{"start_time":50.49,"end_time":54.62,"text":"That would certainly tell us something\nnew is happening in the options market. ","speaker_tag":0}]},{"id":"65c37d001791a","items":[{"start_time":54.65,"end_time":60.06,"text":"Now, yesterday was an inside day\nfor the S&P 500 and for the Dow. ","speaker_tag":0}]},{"id":"65c37d001791b","items":[{"start_time":60.09,"end_time":62.42,"text":"We are looking at a target of 500 on the ","speaker_tag":0}]},{"id":"65c37d001791c","items":[{"start_time":62.45,"end_time":69.62,"text":"SPY as our next major area of resistance,\nand 5,000 on the index itself. ","speaker_tag":0}]},{"id":"65c37d001791d","items":[{"start_time":69.65,"end_time":75.08,"text":"Coming into Wednesday's trading action,\nwe would need to see a close below $485. ","speaker_tag":0}]},{"id":"65c37d0017927","items":[{"start_time":75.11,"end_time":79.34,"text":"81 to give us a sell signal for the SPY. ","speaker_tag":0}]},{"id":"65c37d0017928","items":[{"start_time":79.37,"end_time":84.14,"text":"More conservative traders are going\nto be looking for a close below 482. ","speaker_tag":0}]},{"id":"65c37d0017929","items":[{"start_time":84.16,"end_time":86.12,"text":"Then, of course, long-term investors would ","speaker_tag":0}]},{"id":"65c37d001792a","items":[{"start_time":86.15,"end_time":91,"text":"not be disturbed until the\nS&P 500 closes below $464. ","speaker_tag":0}]},{"id":"65c37d001792b","items":[{"start_time":91.03,"end_time":93.78,"text":"17 on Friday. ","speaker_tag":0}]},{"id":"65c37d001792c","items":[{"start_time":93.81,"end_time":98.18,"text":"And so far this week, we're certainly\nnot expecting that to happen. ","speaker_tag":0}]},{"id":"65c37d001792d","items":[{"start_time":98.2,"end_time":100.56,"text":"Now, the Dow Diamonds had\nan inside day yesterday. ","speaker_tag":0}]},{"id":"65c37d001792e","items":[{"start_time":100.59,"end_time":104.36,"text":"The Q's were able to trade slightly\nabove the previous day's high. ","speaker_tag":0}]},{"id":"65c37d001792f","items":[{"start_time":104.39,"end_time":106.06,"text":"So no change in trend there. ","speaker_tag":0}]},{"id":"65c37d0017930","items":[{"start_time":106.08,"end_time":108.16,"text":"No change in trend for the Russell 2000 or ","speaker_tag":0}]},{"id":"65c37d0017931","items":[{"start_time":108.19,"end_time":113.85,"text":"for the Russell microcaps, both\nmoving up into the channel yesterday. ","speaker_tag":0}]},{"id":"65c37d0017932","items":[{"start_time":113.88,"end_time":115.72,"text":"Then looking at semiconductors. ","speaker_tag":0}]},{"id":"65c37d0017933","items":[{"start_time":115.75,"end_time":118,"text":"The SOX index looks like this, and the ","speaker_tag":0}]},{"id":"65c37d0017934","items":[{"start_time":118.03,"end_time":121.74,"text":"semiconductor ETF that I\nusually quote looks like this. ","speaker_tag":0}]},{"id":"65c37d0017935","items":[{"start_time":121.77,"end_time":127.98,"text":"The reason I follow this one is it's\npart of the S&P family, the SPDR family. ","speaker_tag":0}]},{"id":"65c37d0017936","items":[{"start_time":128.01,"end_time":131.04,"text":"Unfortunately, a lot of you want me to ","speaker_tag":0}]},{"id":"65c37d0017937","items":[{"start_time":131.07,"end_time":135.45,"text":"cover this one, which certainly\nhas a lot more volume. ","speaker_tag":0}]},{"id":"65c37d0017938","items":[{"start_time":135.48,"end_time":141.44,"text":"And so in the future, I will be\nquoting the SMH as you have requested. ","speaker_tag":0}]},{"id":"65c37d0017939","items":[{"start_time":141.47,"end_time":143.66,"text":"And you can see it is up yesterday. ","speaker_tag":0}]},{"id":"65c37d001793a","items":[{"start_time":143.69,"end_time":148.12,"text":"It was up at the $195 level\nas up at the high of the day. ","speaker_tag":0}]},{"id":"65c37d001793b","items":[{"start_time":148.15,"end_time":150.68,"text":"And we are looking We're waiting to see if ","speaker_tag":0}]},{"id":"65c37d001793c","items":[{"start_time":150.71,"end_time":153.94,"text":"it can break out and make\na higher high on Wednesday. ","speaker_tag":0}]},{"id":"65c37d001793d","items":[{"start_time":153.97,"end_time":156.36,"text":"Now, what happened on Tuesday? ","speaker_tag":0}]},{"id":"65c37d001793e","items":[{"start_time":156.39,"end_time":160.17,"text":"Well, materials were the big winner, while\ntechnology stocks ","speaker_tag":0}]},{"id":"65c37d001793f","items":[{"start_time":160.2,"end_time":165.14,"text":"were the losers on the day,\nand materials are still on a sell signal. ","speaker_tag":0}]},{"id":"65c37d0017940","items":[{"start_time":165.17,"end_time":168.68,"text":"That would change on Wednesday\nwith a close above $83. ","speaker_tag":0}]},{"id":"65c37d0017941","items":[{"start_time":168.68,"end_time":170.04,"text":"03. ","speaker_tag":0}]},{"id":"65c37d0017942","items":[{"start_time":170.84,"end_time":172.88,"text":"No joy for real estate. ","speaker_tag":0}]},{"id":"65c37d0017946","items":[{"start_time":172.88,"end_time":174.88,"text":"We've got health care making a new high. ","speaker_tag":0}]},{"id":"65c37d0017947","items":[{"start_time":174.91,"end_time":177.52,"text":"Lots of big cap health care stocks have ","speaker_tag":0}]},{"id":"65c37d0017948","items":[{"start_time":177.55,"end_time":181.46,"text":"had huge run-ups over the\nin the past couple of weeks. ","speaker_tag":0}]},{"id":"65c37d0017949","items":[{"start_time":181.49,"end_time":184,"text":"Industrials made a new\nclosing high yesterday. ","speaker_tag":0}]},{"id":"65c37d001794a","items":[{"start_time":184.03,"end_time":187.3,"text":"No change in trend for\nconsumer discretionary. ","speaker_tag":0}]},{"id":"65c37d001794b","items":[{"start_time":187.33,"end_time":190.86,"text":"Energy stocks in the US\nstill on a buy signal. ","speaker_tag":0}]},{"id":"65c37d001794c","items":[{"start_time":190.89,"end_time":193.22,"text":"No change in trend for utilities. ","speaker_tag":0}]},{"id":"65c37d001794d","items":[{"start_time":193.25,"end_time":198.1,"text":"And then looking at financials, Very\nquiet day for financials on Tuesday. ","speaker_tag":0}]},{"id":"65c37d001794e","items":[{"start_time":198.13,"end_time":200.68,"text":"Bank stocks still on a sell signal, and ","speaker_tag":0}]},{"id":"65c37d001794f","items":[{"start_time":200.71,"end_time":205.02,"text":"the regional bank still on a sell\nsignal, holding the recent low. ","speaker_tag":0}]},{"id":"65c37d0017950","items":[{"start_time":205.04,"end_time":206.8,"text":"And of course, the market is a little ","speaker_tag":0}]},{"id":"65c37d0017951","items":[{"start_time":206.83,"end_time":210.66,"text":"concerned about what's happening in the\nregional banking sector, which could ","speaker_tag":0}]},{"id":"65c37d0017952","items":[{"start_time":210.69,"end_time":215.38,"text":"roll over to the rest of the market\nif something major breaks down. ","speaker_tag":0}]},{"id":"65c37d0017953","items":[{"start_time":215.41,"end_time":218.61,"text":"Consumer staples still on a\nbuy signal, no change there. ","speaker_tag":0}]},{"id":"65c37d0017954","items":[{"start_time":218.64,"end_time":221.24,"text":"Communication services, we saw a pullback ","speaker_tag":0}]},{"id":"65c37d0017955","items":[{"start_time":221.27,"end_time":226.08,"text":"yesterday, closing below the previous\nday's low, and that could be a concern ","speaker_tag":0}]},{"id":"65c37d0017956","items":[{"start_time":226.11,"end_time":229.1,"text":"going forward, but right now\nwe are still on a buy signal. ","speaker_tag":0}]},{"id":"65c37d0017957","items":[{"start_time":229.13,"end_time":231.61,"text":"No change in trend for technology stocks. ","speaker_tag":0}]},{"id":"65c37d001795d","items":[{"start_time":231.64,"end_time":234.8,"text":"Then we saw transports move up. ","speaker_tag":0}]},{"id":"65c37d001795e","items":[{"start_time":234.8,"end_time":236.6,"text":"The transports were not part of the list ","speaker_tag":0}]},{"id":"65c37d0017962","items":[{"start_time":236.6,"end_time":240.32,"text":"we started with, but I just wanted to\nthrow them in there that the We are back ","speaker_tag":0}]},{"id":"65c37d0017963","items":[{"start_time":240.35,"end_time":244.7,"text":"on a buy signal and actually closed\nabove the previous week's high. ","speaker_tag":0}]},{"id":"65c37d0017970","items":[{"start_time":244.72,"end_time":247.2,"text":"Next up, let's take a look\nat the world of commodities. ","speaker_tag":0}]},{"id":"65c37d0017971","items":[{"start_time":247.23,"end_time":251.78,"text":"Starting with crude oil, the\nUSO is still on a sell signal. ","speaker_tag":0}]},{"id":"65c37d0017972","items":[{"start_time":251.8,"end_time":255.22,"text":"Now, we do have energy inventories coming\nout later this morning, which could ","speaker_tag":0}]},{"id":"65c37d0017973","items":[{"start_time":255.25,"end_time":258.34,"text":"certainly change the\ndirection of this ETF. ","speaker_tag":0}]},{"id":"65c37d0017974","items":[{"start_time":258.36,"end_time":262,"text":"Now, it is looking bullish, even though\nwe're still on a sell signal here. ","speaker_tag":0}]},{"id":"65c37d0017975","items":[{"start_time":262.03,"end_time":267.5,"text":"Notice we put in a recent higher high,\nand we've put in a series of higher lows. ","speaker_tag":0}]},{"id":"65c37d0017976","items":[{"start_time":267.53,"end_time":272.3,"text":"So that is a bullish chart pattern, even\nthough we're still on a sell signal. ","speaker_tag":0}]},{"id":"65c37d0017977","items":[{"start_time":272.33,"end_time":274.72,"text":"That is also true for gasoline, which ","speaker_tag":0}]},{"id":"65c37d001797d","items":[{"start_time":274.75,"end_time":278.56,"text":"recently put in a higher\nhigh and a higher low. ","speaker_tag":0}]},{"id":"65c37d001797e","items":[{"start_time":278.56,"end_time":280.3,"text":"So we're still on a sell signal here. ","speaker_tag":0}]},{"id":"65c37d001797f","items":[{"start_time":280.33,"end_time":282.64,"text":"For gasoline, we would\nneed a close above 64. ","speaker_tag":0}]},{"id":"65c37d0017980","items":[{"start_time":282.66,"end_time":286.66,"text":"22 on Wednesday to give us a buy signal. ","speaker_tag":0}]},{"id":"65c37d0017981","items":[{"start_time":286.69,"end_time":289.12,"text":"Unfortunately, no joy for natural gas. ","speaker_tag":0}]},{"id":"65c37d0017982","items":[{"start_time":289.15,"end_time":294,"text":"We made a new closing low for this move\nyesterday, still clustering around the 18. ","speaker_tag":0}]},{"id":"65c37d0017985","items":[{"start_time":294.03,"end_time":294.92,"text":"75 level. ","speaker_tag":0}]},{"id":"65c37d0017986","items":[{"start_time":294.93,"end_time":297.08,"text":"If we want to break\ndown from here, then 15. ","speaker_tag":0}]},{"id":"65c37d0017987","items":[{"start_time":297.1,"end_time":301.18,"text":"63 would be our next\ntarget to the downside. ","speaker_tag":0}]},{"id":"65c37d0017988","items":[{"start_time":301.21,"end_time":304.6,"text":"Looking at the metals, we've got\nthe GLD trading in the channel. ","speaker_tag":0}]},{"id":"65c37d0017989","items":[{"start_time":304.63,"end_time":308.06,"text":"It's up a penny in the\npre-market last time I checked. ","speaker_tag":0}]},{"id":"65c37d001798a","items":[{"start_time":308.09,"end_time":311,"text":"Looking for a close above 189. ","speaker_tag":0}]},{"id":"65c37d001798b","items":[{"start_time":311.03,"end_time":316.06,"text":"01 to give us a new buy signal,\nget us back on track for the GLD. ","speaker_tag":0}]},{"id":"65c37d0017999","items":[{"start_time":316.09,"end_time":318.92,"text":"No joy for a palladium, no joy for ","speaker_tag":0}]},{"id":"65c37d001799a","items":[{"start_time":318.95,"end_time":324.5,"text":"platinum, and no joy for silver coming\ninto Wednesday's trading action. ","speaker_tag":0}]},{"id":"65c37d001799b","items":[{"start_time":324.53,"end_time":327.6,"text":"Last up this morning, let's take\na look at the Magnificent 8. ","speaker_tag":0}]},{"id":"65c37d001799c","items":[{"start_time":327.63,"end_time":332.58,"text":"And starting with AMD, it is back on\na sell signal as of Tuesday's close. ","speaker_tag":0}]},{"id":"65c37d001799d","items":[{"start_time":332.6,"end_time":335.28,"text":"No change in trend for Amazon, no change ","speaker_tag":0}]},{"id":"65c37d001799e","items":[{"start_time":335.3,"end_time":338.66,"text":"in trend for Alphabet,\nstill on a sell signal here. ","speaker_tag":0}]},{"id":"65c37d001799f","items":[{"start_time":338.69,"end_time":342.64,"text":"Then no change in trend for Microsoft,\nlooking for a close below $400. ","speaker_tag":0}]},{"id":"65c37d00179a0","items":[{"start_time":342.67,"end_time":346.74,"text":"52 on Wednesday They did\ngive us a sell signal. ","speaker_tag":0}]},{"id":"65c37d00179a1","items":[{"start_time":346.77,"end_time":349.36,"text":"Nvidia made a new high yesterday, trading ","speaker_tag":0}]},{"id":"65c37d00179a8","items":[{"start_time":349.39,"end_time":353.74,"text":"right over the $700 level\nbefore starting to pull back. ","speaker_tag":0}]},{"id":"65c37d00179a9","items":[{"start_time":353.77,"end_time":355.82,"text":"No change in trend there. ","speaker_tag":0}]},{"id":"65c37d00179aa","items":[{"start_time":355.85,"end_time":358.66,"text":"And then looking at Shopify, we had a ","speaker_tag":0}]},{"id":"65c37d00179ab","items":[{"start_time":358.69,"end_time":361.64,"text":"reversal last week week, but\nwe're not going anywhere. ","speaker_tag":0}]},{"id":"65c37d00179ac","items":[{"start_time":361.67,"end_time":365.28,"text":"So looking for a close\non Wednesday below $79. ","speaker_tag":0}]},{"id":"65c37d00179ad","items":[{"start_time":365.3,"end_time":366.26,"text":"44. ","speaker_tag":0}]},{"id":"65c37d00179ae","items":[{"start_time":366.29,"end_time":370.58,"text":"And then Tesla was up on the day, still\ntrading below the lower channel line, ","speaker_tag":0}]},{"id":"65c37d00179af","items":[{"start_time":370.6,"end_time":375,"text":"looking for a close on\nWednesday above $195. ","speaker_tag":0}]},{"id":"65c37d00179b0","items":[{"start_time":375,"end_time":376.24,"text":"52. ","speaker_tag":0}]},{"id":"65c37d00179b1","items":[{"start_time":376.56,"end_time":378.44,"text":"And so far, what we're seeing in the ","speaker_tag":0}]},{"id":"65c37d00179b2","items":[{"start_time":378.47,"end_time":380.58,"text":"pre-market, we're not\nseeing that just yet. ","speaker_tag":0}]},{"id":"65c37d00179b3","items":[{"start_time":380.6,"end_time":385.02,"text":"And again, we are looking for\nour first close above this bar. ","speaker_tag":0}]},{"id":"65c37d00179c0","items":[{"start_time":385.04,"end_time":388.44,"text":"And yes, we have traded above it,\nbut we haven't closed above it. ","speaker_tag":0}]},{"id":"65c37d00179c1","items":[{"start_time":388.44,"end_time":390.86,"text":"And that's the first thing\nwe're really looking for. ","speaker_tag":0}]},{"id":"65c37d00179c2","items":[{"start_time":390.89,"end_time":393.08,"text":"Our last chart of the day is Netflix. ","speaker_tag":0}]},{"id":"65c37d00179c3","items":[{"start_time":393.1,"end_time":395.24,"text":"Netflix is still on a buy signal here. ","speaker_tag":0}]},{"id":"65c37d00179c7","items":[{"start_time":395.27,"end_time":398.88,"text":"We've got an early warning signal\nyesterday closed in the channel. ","speaker_tag":0}]},{"id":"65c37d00179c8","items":[{"start_time":398.91,"end_time":403.56,"text":"So we're looking for a close\non Wednesday below $546. ","speaker_tag":0}]},{"id":"65c37d00179c9","items":[{"start_time":403.56,"end_time":404.96,"text":"80. ","speaker_tag":0}]},{"id":"65c37d00179ca","items":[{"start_time":405.24,"end_time":408.64,"text":"Okay, folks, that is all for\nthis morning's presentation. ","speaker_tag":0}]},{"id":"65c37d00179cb","items":[{"start_time":408.67,"end_time":412.54,"text":"So far, it looks like we're going to\nhave a fairly quiet open on Wednesday. ","speaker_tag":0}]},{"id":"65c37d00179cc","items":[{"start_time":412.56,"end_time":414.64,"text":"Have a great day, folks, and the next time ","speaker_tag":0}]},{"id":"65c37d00179cd","items":[{"start_time":414.64,"end_time":416.68,"text":"you'll hear my voice\nis on Thursday morning. ","speaker_tag":0}]}]