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 higher across the board,. being led higher by the Nasdaq, and the
Nasdaq is being led higher by Meta.. Now, the DOW continued to move higher on. Wednesday and continued its
record breaking streak.. Now, we're back hitting the
record books from 1987.. If you don't remember, we had a
nice big major crash in 1987.. It'll be interesting to see if we can end. the year without a major
pullback like that.. Now, I'm more interested in the
DOW Transports than the DOW itself.. The DOW Transports continue to move
higher, up nearly 3 % on the day.. Now, in the pre market this morning, Meta. is trading up above the
upper channel line.. If it ends the day up there, of course,
that would generate a new buy signal.. It'll be interesting to see if Meta can. trade and hold levels
above the recent high.. Mcdonald's is also trading higher
in the premarket this morning.. If it ends the day where it's trading. right now, that would give
us a new daily buy signal.. Notice the resistance across
the top of the screen.. We made a high back in May and have tried. several times to break
out above that high.. It'll be interesting to see
how traders handle that on Thursday.. And for Canadian investors, Celestica,. which trades in New York, is up
nearly 30 % in the premarket.. So we're looking for a Celestica
to pop on the TSX on Thursday.. Looking at the VIX, the VIX is still on a. sell signal that, of course, is
supportive for higher stock prices.. Things would change on Thursday with a
close above $14.18.. Now, the Fed made their proclamation
yesterday and not a lot of movement in the. bond market whether you're
looking at the TLT.. If you're looking at emerging market bonds. or the junk bonds, they traded back
to where they were trading on Monday.. So some selling going into the Fed meeting. and then they bought them
all back on Wednesday.. Looking at currencies, the US dollar index. pulled back yesterday back in the channel
and the Euro traded up into the channel.. No change in trend for either currencies.. Then looking at the major indices, the SPY
was up yesterday just by seven cents, but. it's trading higher in the
pre market this morning.. The Nasdaq traded down to
the lower channel line.. It's been in the channel for the last. four trading days and of
course, that's neutral.. The Nasdaq is trading higher in the. premarket this morning, so not overly
concerned about a sell signal on Thursday.. And then looking at semiconductors,
they're also trading higher this morning.. Semiconductors still on a sell signal.. That had something to do with
Texas Instruments yesterday.. Generally, stocks fall faster than they. rise, and that's why we like you to
lock in profits as a stock is rising.. And of course, you don't have to
liquidate all of your profits.. If you've been trading Texas instrument,. of course, you're coming into today's
trading action with a partial position. left, so you should be able to end this
trade with a profit or at least break even. depending on how you
traded Texas Instruments.. Looking at Advanced Micro Devices, just. treading water here,
still on a sell signal.. Nvidia, still treading
water, still in the channel.. So looking for a breakout
or a breakdown on Thursday.. Looking at the Canadian market, the TSX. dipped lower yesterday and then
ended the day higher by a penny.. And of course, I'm referring
to the ishares for the TSX 60.. Now looking at financials in New York, we. traded up being led higher by banks and
being led higher by the regional banks.. Then looking at broker dealers, they
treaded water on Wednesday and we saw US. insurance companies
continue to move higher.. And then Canadian financials traded higher
on Wednesday, not taking out the previous. day's high, whether you're looking at
financials or banks,. but at least they didn't continue
to move lower on Wednesday.. Let's finish off today's presentation
taking a look at what worked on Wednesday.. Starting on the TSX, Rogers popped.. It's back on a buy signal
as of Wednesday's close.. It traded above the June highs.. It would be nice to see if
we could close above them.. Then First Quantum dipped into the channel. yesterday, then ran right up
to the previous day's high.. And Canadian Pacific is trading
back up at the May high.. So now it's a make or break time.. Do we break out to higher highs or is
the May high going to act as resistance?. Then on the DOW, it was Boeing that. popped, gave us a buy signal on
Monday, popped on Wednesday.. There's 3M continuing to move higher as
we see Home Depot doing the same thing.. Then on the Nasdaq 100, it
was old Dominion Freight.. So one of those DOW transport components. followed by Alphabet back on a buy
signal as of Wednesday's close.. Then ADP making a new high for this move.. And last up, we're looking at
the winners on the S&P 500.. Again, it was a transportation component,. Union Pacific, followed by the
regional banks, Zions, and Key Corp.. Okay, folks, that is all for
this morning's presentation.. Somebody was asking about an Ursa picture. the other day, so here's
one that we took this week.. She's doing really well and she's going
to have her fourth birthday in September.. In enjoy the rest of your day.. Next time you'll hear my
voice is on Friday morning..