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 currently above fair value..
Commodities are mixed with crude oil.
slightly lower, while gold is slightly higher..
Now, we do have a lot of economic numbers coming up this morning, including US.
jobless claims that could certainly change the direction of the market..
But so far, it looks like the market wants to do some buying..
Now, the VIX is still on a buy signal, and.
there's lots of reasons for that while there's still stress in the market..
At the same time, semiconductors are still leading the market higher..
The Dow is still on a sell signal..
The S&P 500 and Nasdaq are still on buy signals here..
Not much changed on Wednesday..
We've got Apple and Tesla still making lower lows..
We still have meta on a buy signal..
That hasn't changed..
Nvidia continuing to move higher..
It looks like they may want to take NVIDIA right up to $1,000..
And Super Micro made a new closing high on Wednesday..
Now moving on to the Canadian stock market..
The TSX hitting new highs yesterday..
Everything's working at the moment..
We've got the TSX, the TSX 60, mid-caps,.
small caps, and microcaps, all ranked at 10 at the moment..
It is the energy sector that's leading the.
Canadian market higher at the moment, and financials are doing very well..
We've got the income trust back up at the.
previous highs, and we've got industrials have been rocking for quite a while now..
They had a slight pullback yesterday, but still on a buy signal, no change..
What's not working, the telecom stocks are the weakest at the moment..
Now, if we look at what happened.
yesterday, it was materials that led the market higher up over 1%..
Healthcare, real estate, and the industrials were on the losing side..
In the material sector, Lithium Americas,.
the Argentina version was up over 10%, and then its sister company was up over 7%,.
and then looking at goals, IAMGold was up over 6% on the day..
Now, if we look at the most actives, we do not have any trend changes here..
Suncor is still doing very well..
No change there..
No change for Canadian Natural Resources..
Manulife has been in the channel for the past couple of days..
A close below 32,17 on Thursday would give us a new daily sell signal for Manulife..
Bayex has been on a sell signal for a few days now..
No change there..
No change for Cenovus..
Inside day for Kinross on Wednesday..
No change for Bitfarm..
Then we've got Tamarack making a new high for this move..
We've got Athabasca making a new high for this move..
So no changes in any of those stocks..
And then we've got Barrick making a new high for this move on Wednesday..
Looking at the commodities, starting off.
with the miners, we've got copper up on the day yesterday..
We've got gold moving higher..
We've got silver moving higher,.
and we can see the iShares for the TSX Global Gold ETF making a A new high for.
this move, starting to break out above the high from a month ago, but did not.
close above that level yesterday, so that is still acting as resistance..
And then next up, let's look at the energy sector..
We had crude oil up on the day yesterday, trying to make a new high for this move..
Slight pullback this morning, natural gas.
still on a buy signal, small pullback yesterday..
And then looking at the energy index.
itself, as we saw earlier, it made a new high on Wednesday..
So it is the energy sector leading the Canadian market higher..
Okay, folks, that is all I wanted to cover this morning..
As you can see, no major trend changes from Wednesday's trading activity..
Again, we have US jobless claims coming out later this morning that could.
certainly change the direction of the market..
But so far, things look pretty positive..
Have a great day, folks..
Next time you'll hear my voice is on Friday morning..