Good morning, everyone.
Welcome to Friday morning.. It's Stephen Whiteside here from the. uptrend.com in the pre market this
morning, things are fairly quiet ahead of. employment numbers that are
coming out at 8:30 this morning.. And of course, if the employment numbers. are good, that could be
bad for the stock market.. If the employment numbers are really bad,
that could be good for the stock market.. So we'll have to just wait
and see how that works out.. But I do need to record this before for. those numbers come out or it'll never
get published before the market opens.. So here we go.. Now, I've probably mentioned this several. times this week, but this is
a holiday shortened week.. A lot of people are still on vacation.. So however today ends up, I'm not
going to take it too seriously.. I think everybody will be back at their. desks next week and that's where
we should really pay attention.. And as you can see, the VIX is still. treading water here, still
trading in the Channel.. Yesterday was an inside day.. We did see the US dollar
index move up yesterday.. Of course, corresponding
currencies move down.. Then we've got bonds.. Bonds have been trading in the channel for
the past two days, hitting the upper. channel line, still on a sell
signal, no change there.. Then we saw gold move up on Wednesday,. tried to hit 1875, pulled
back just before that.. And there we see gold down yesterday.. We still need to close on Friday below
1814.12 to give us a sell signal.. We still have crude oil on a Sell
signal holding $72 at the moment.. Natural gas making a new low yesterday, so
no change in direction for natural gas.. The Dow diamonds still treading water. here, still on a cell signal, no change in
trend for the S&P 500 or the Nasdaq 100.. And then the Ishares for the TSX 60.. Still on a sell signal, no change there.. Then looking at the energy sector,. canadian energy stock
still on a sell signal.. It looks like they're trying to
find support at Wednesday's lows.. Then we've got US energy stocks still
haven't broken down below the December. lows trading back in
the Channel yesterday.. Then we're looking at gold miners.. The GDX pulled back yesterday, while the. Ishares for the TSX Global Gold index
actually closed up a penny on the day.. Then we're looking at Apple, as we've been
talking about Apple for a while now,. looking to see if it can
hold support at 125.. It closed at 125.02.. And if we start breaking down below 125,. I'm sure a lot of people are going to
be expecting it to head down to $100.. And then Tesla, tesla has been trading. water for the past couple of
days, still trading above $100.. That's the big area of
psychological support.. And if you're bullish, of course
you're hoping that Tesla holds 100.. If you're bearish and looking
for it to head to 62.. 50.
Then you want it to break $100.. And last up this morning, Microsoft.. Microsoft got clipped the other day.. It continued lower on Thursday.. So it looks like it wants to head
down to retest those November lows.. Okay, that's all I want to say
for this morning's presentation.. Again, employment numbers
coming out at 8:30.. And of course, the market is going to. overreact to whatever the numbers are,
whether they're bullish or bearish.. And then things will wait till next week. before we really see the market
head in a particular direction.. Have a great day, folks.
Have a great weekend.. Next time you'll hear
my voice is on Sunday.. Thank you..