Hey, 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 trading above fair value.. That is, of course, before those
economic numbers come out at 8:30.. We're expecting CPI and jobless claims to. come out and either of those numbers could
certainly affect the direction of the. stock market coming into
Thursday's trading.. Fear is still falling and that of course,
is supportive for higher stock prices.. So let's get into the charts now.. The VIX continued to move lower on
Wednesday, down 5.52% on the day.. The VIX of the VIX is
still on a sell signal.. That's supportive for higher stock prices.. The US dollar index still on a sell. signal, closing down
just a penny yesterday.. Then we've got the 30 year
bond back on a buy signal.. The yield on the 30 year
bond back on a sell signal.. The price of gold continue
higher on Wednesday.. Back on a buy signal.. We are waiting for the price of silver and. it needs to close above $22.29 on
Thursday to give us a buy signal.. Looking at the price of crude oil, we
came down, filled the gap yesterday.. Now we're moving up in the pre
market, up a dollar and change.. The price of natural gas had a wild day on. Wednesday, but then settled down going
into the close, looking at the Dow.. The Dow had an inside day on
Wednesday, as did the S&P 500.. S&P 500 trading in the open gap and
still has not filled that gap just yet.. The Nasdaq 100 made a new
closing high for this move.. The semiconductor is
still on a buy signal.. No change there.. The Isares for the TSX
60 were up yesterday.. And not only was it the commodity stocks,
but financials helped out as well.. Then looking at financials, looking at the
S&P 500 financials, we're on a buy signal.. We're on a buy signal for US banks, for US. regional banks, for broker dealers,
and for the insurance sector.. So all the US financials
are back on buy signals.. Looking at Canadian financials, we do have. the financial index back on a buy signal,
but we're still waiting for banks.. We're still looking at the Bank
of Nova Scotia as the weakest.. And we've got the TD bank
back on a buy signal.. Then looking at energy stocks, energy. stocks in Canada were
down slightly yesterday.. We're back on a buy signal here.. Unlike in the US,. which was down over 1% and
still on a sell signal.. No change there for US financials.. Copper miners pulled
back slightly yesterday.. Gold miners on both sides of the border
continued to move higher on Wednesday.. And then looking at those major tech. stocks, we had Alphabet continue to
break out above the September high.. We've got Amazon moving up to
the bottom of the open gap.. Then looking at Apple, Apple's also got a. gap to deal with and finding
resistance at the 180 level.. Then we're looking at Meta
making a new high for this move.. We saw Microsoft continue to move higher
on Wednesday and then we've got Nvidia. making a new high for this move and then
we've got Shopify pulling back now.. Shopify has got an open gap so
far that's held us in check.. We're still on a buy signal here.. Looking at Shopify in New York.. We're looking for a close below 52
.41 on Thursday to give us a sell signal.. And then last up, Tesla.. Tesla had an inside day on
Wednesday, so no change for Tesla.. Still on a buy signal.. That would change on Thursday with a close. below 250.37 okay folks, that is all
for this morning's presentation.. I'm publishing this just before the
economic numbers come out at 830.. And of course that could certainly change. the direction of the market before
those economics numbers come out.. The market is fairly
positive this morning.. Have a great day.. Next time you'll hear my
voice is on Friday morning..