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And in this presentation, going to take a look at
And in this presentation, going to take a look at North American stock market
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The most of the interesting thing that I saw from
The most of the interesting thing that I saw from Tuesday's trading action was the big reversal in the price of crude oil and energy stocks on both sides of the border, of course, bearish reversal days,
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They still need to be confirmed and that might not
They still need to be confirmed and that might not happen on Wednesday
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I don't think it would surprise anyone to know that
I don't think it would surprise anyone to know that it was the energy sector that led the markets higher, for
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The month of May in Canada, is cenovus, energy was
The month of May in Canada, is cenovus, energy was the big winner up over 23% in the US was Devon energy up over 28% for the month
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We made a new high for both of these symbols
We made a new high for both of these symbols and then they reversed, we did not close blow the previous day's low in both cases
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And so closing, blow the previous day's low as one
And so closing, blow the previous day's low as one of the first things I look forward to anticipate a change in Trend that did not happen
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Lowe's, I had a huge reversal and for the TSX,
Lowe's, I had a huge reversal and for the TSX, we still close to slightly lower on the month, the S&P 500 closed up, just 10 1% for the month, just up 22 cents for the month
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Now, while the energy sector were the big winners for
Now, while the energy sector were the big winners for the month of May, the big loser in both Canada and the US was the gold sector
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If we look at a weekly chart, you can see
If we look at a weekly chart, you can see why the Bears reversal signals
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And we've had over the past six months or so
And we've had over the past six months or so that when they're, when they're, when they're, are they all did a pretty good job of vindicating
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And right now, we're waiting to see when we're going
And right now, we're waiting to see when we're going to get a bullish reversal signal for the xaus is on a daily cell signal right now that's supported for higher stock
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Now, if you were with us last week, I recommended
Now, if you were with us last week, I recommended that if you're going to take any Buy signals that you take partial positions and add to them this week
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If the market wants to go continue to move higher
If the market wants to go continue to move higher into the month of June
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And we talked about the fact that that just about
And we talked about the fact that that just about every indicator out there was oversold during the month of May, a lot of them have turned around and started to move higher
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Historically, when insiders are aggressively selling that the markets usually
Historically, when insiders are aggressively selling that the markets usually about to Peak and trough at work last year as well
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And then as the inside or stop selling aggressively, that's
And then as the inside or stop selling aggressively, that's usually when markets bottom
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This is the time and place where we might just
This is the time and place where we might just see expect to see the market reverse
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You can also see that an indicator like this can
You can also see that an indicator like this can stay over sold for a much longer period than just a quick reversal
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And that's something you have to consider when you're looking
And that's something you have to consider when you're looking at a market in an oversold condition, that can stay there for much longer than you would expect
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Now, what the beats out just about any type of
Now, what the beats out just about any type of market analysis at the moment is the fact that there's an old saying in the market that we don't fight the fed and the FED is starting
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They want to fight inflation and the easiest way for
They want to fight inflation and the easiest way for you and I to keep track of inflation is just to watch the price of crude oil
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As some of the major Commodities have started to come
As some of the major Commodities have started to come back down in price such as corn and wheat
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WETA is a coming off a lower hide that was
WETA is a coming off a lower hide that was done, made a couple of weeks ago
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Then we've got cattle prices coming down, of course, cattle
Then we've got cattle prices coming down, of course, cattle prices coming down, have more to do
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Cattle Farmers selling off their herds cuz they don't want
Cattle Farmers selling off their herds cuz they don't want to pay the high prices for feed and then we've got lumber prices also coming down
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So that, you know, through the out, the economy, the
So that, you know, through the out, the economy, the FED wants to see things slow down such as housing, such as Car Sales, such as retail sales and then, of course, the biggest Universal indicator of
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inflation is just watching the price of crude oil are
inflation is just watching the price of crude oil are coming down at the moment, such as orange juice, but I don't think that the FED is really watching the price of orange juice and making decisions
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So I think we can continue to see a series
So I think we can continue to see a series of a lower highs and lower lows
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For some time with an ultimate to sell off at
For some time with an ultimate to sell off at some point in the future
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Now we're looking at the markets coming off the bottom
Now we're looking at the markets coming off the bottom of the panics owns
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So this is the time and place where, of course,
So this is the time and place where, of course, we expect the markets to go up
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We have new by signals, but is it going to
We have new by signals, but is it going to be O'Reilly like that or a rally like that, we're not sure just yet
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The last week, the markets were able to move up
The last week, the markets were able to move up to the March Lowe's and stop after the spider eats after looking for a move up to 42188, is our next Target to the upside to get
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Okay? Folks, that's all for this morning's presentation, looking for
Okay? Folks, that's all for this morning's presentation, looking for a higher open this morning
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Now, if I were to tell men that donating blood
Now, if I were to tell men that donating blood would grow hair on their head, they would be all donating blood today
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When you donate blood, if you actually create new blood
When you donate blood, if you actually create new blood and you know, as you get older, how do you want to fight disease and old age? Do you want to fight it with old blood or
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So I can get some new blood over the next
So I can get some new blood over the next couple of days in that Joy your Wednesday
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00:00:04Good morning, everyone .