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Trends in the pre-market this morning, stock index, Futures have
Trends in the pre-market this morning, stock index, Futures have been up all morning
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So, we're not making any new Headway this morning, but
So, we're not making any new Headway this morning, but at least we're not trading lower on Thursday morning for Wednesday, was an interesting trading day
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There was a lot of Promise throughout the day and
There was a lot of Promise throughout the day and then it all faded away going into the clothes lot of Market on close orders
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On Wednesday at the big winner, yesterday, for the down,
On Wednesday at the big winner, yesterday, for the down, the S&P 500 was Salesforce, which popped at the open
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So maybe we can deal with this resistance that we've
So maybe we can deal with this resistance that we've been dealing with for the past couple of days on Thursday
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We've been there for the last 3 days and have
We've been there for the last 3 days and have unable to breakout Above It, by looking at the fuse for the nasdaq-100
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So, if you aren't ordering at 3, 12:50, congratulations, it
So, if you aren't ordering at 3, 12:50, congratulations, it got filled
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If you had an ordering it 18750 and that got
If you had an ordering it 18750 and that got filled a couple of days ago, and then look at the spider eat after the S&P 500
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Speaking of the lows, for March, we haven't got there
Speaking of the lows, for March, we haven't got there yet for the ishares for the TSX, 60
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I think we got as high as 3188 the other
I think we got as high as 3188 the other day, so that hasn't worked out
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But we did get up to the lows of March,
But we did get up to the lows of March, for the TSX itself and to hit our next price Target on Monday
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And, of course, that price Target lines up with the
And, of course, that price Target lines up with the lows from March looking at crude oil
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Somewhere between two down, two and a half and 3%,
Somewhere between two down, two and a half and 3%, That won't be enough to give us a cell signal
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If you're training crew doll, you probably don't want to
If you're training crew doll, you probably don't want to use this chart
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You want to probably take a more conservative, look at
You want to probably take a more conservative, look at the market and use the midterm chart looking at are big winners from May Synovus continue to move higher, new closing, high for Synovus and a new
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Lyford Devon energy on Wednesday continuing with commodities the price
Lyford Devon energy on Wednesday continuing with commodities the price of gold traded through the lower channel on yesterday, but then closed up on the day
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If we can break out above 1875, than $2,000, certainly
If we can break out above 1875, than $2,000, certainly comes into play
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If we break down below 18, 12:50, then we're looking
If we break down below 18, 12:50, then we're looking down to 60 in 8750
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Unfortunately, we're stuck at the 200-day moving average and do
Unfortunately, we're stuck at the 200-day moving average and do we got to get up and over all of the moving average resistance
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And so far, we have not been able to get
And so far, we have not been able to get up over the 200-day, moving average resistance
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If you had an order in to sell at 7:03,
If you had an order in to sell at 7:03, it got executed at the open at 7:30
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So congratulations and where do we get to what we
So congratulations and where do we get to what we treat it up, and it won't open Gap and reversed
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I even with that the Takeover offer, and do where
I even with that the Takeover offer, and do where do we end up yesterday? What right at our price target of $703
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Now, of course, the other side of the trade is
Now, of course, the other side of the trade is a gold fields and gold fields
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So if you saw that by signal, if you're waiting
So if you saw that by signal, if you're waiting to buy gold fields and you saw that bicycle, of course, you come in, you check, the flea market activity
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And you can just certainly wave that off and yesterday
And you can just certainly wave that off and yesterday was fairly quiet day for gold fields at the stock had an inside day or a day of indecision
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Another gold miners ETF is still on a by signal,
Another gold miners ETF is still on a by signal, but the TSX are the ishares for the TSX
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Global gold index are on a cell signal second day
Global gold index are on a cell signal second day of a cell signal for that stock
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Now, I understand the gold Fields is in both of
Now, I understand the gold Fields is in both of these ETFs, but that seemed to hurt the Canadian
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And where is 150? Well, that would be the March
And where is 150? Well, that would be the March low, then looking at Shopify, + Shopify Inc
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So what was previously, support often access resistance on the
So what was previously, support often access resistance on the way back up and of course, if we can start breaking out above 750
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Well, guess what? 875? Text Target that acted as previously
Well, guess what? 875? Text Target that acted as previously acted as support and that is going to be a huge Wall of Resistance
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00:00:04Good morning, everyone and welcome to Thursday morning.
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00:00:06It's Stephen Whiteside here from theuptrend.com.
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00:00:08With today's
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00:00:09look at North American stock market
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00:00:11Trends. In the pre-market this morning, stock index, Futures have been up all morning.
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00:00:15Now, the S&P 500 was down a little over 30 points yesterday.
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00:00:19It's up about 20 points in the pre-market this morning.
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00:00:22So, we're not making any new Headway this morning, but at least we're not trading lower on Thursday morning. Wednesday, was an interesting trading day.
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00:00:31There was a lot of Promise throughout the day and then it all faded away going into the close with a lot of Market on close orders.
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00:00:38On Wednesday at the big winner, for the DOW and the S&P 500 was Salesforce which popped at the open.
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00:00:47With a big open Gap.
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00:00:49There
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00:00:49we are
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00:00:50trying to get to 187.50.
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00:00:52We were not able to do that, just $3 and change away. We may be
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00:00:56able to hit that on Thursday.
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00:00:59The VIX for the S&P 500, for the NASDAQ.
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00:01:02and for the Russell 2000
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00:01:04closed lower.
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00:01:06That's all supportive for higher stock prices.
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00:01:08So maybe we can deal with this resistance that we've been dealing with for the past couple of days on Thursday.
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00:01:15If we can break out above some of the resistance
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00:01:17I'll be showing you, that could start the next leg up for the market.
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00:01:21Look at the SOX index were dealing with 3125.
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00:01:33We did hit 312.50 yesterday.
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00:01:35Got as high as 312.65.
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00:01:38So, if you aren't ordering at 312.50, congratulations, it got filled.
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00:01:42Then look at the ishares for the Russell 2000.
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00:01:45If you had an ordering it 187.50, that got filled a couple of days ago. Ahen look at the SPY ETF for the S&P 500.
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00:01:53We're trying to get to 421.88.
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00:01:55That is our next price Target.
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00:01:57Unfortunately, we're stuck at the lows from March.
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00:02:01Speaking of the lows, for March, we haven't got there yet for the iShares for the TSX, 60.
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00:02:06We're trying to get to 32.03.
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00:02:08I think we got as high as 31.88 the other day, so that hasn't worked out.
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00:02:12But we did get up to the lows of March. For the TSX itself, we hit our next price Target on Monday.
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00:02:20S far
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00:02:21we have not been able to break out about that.
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00:02:22And, of course, that price Target lines up with the lows from March. Looking at crude oil.
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00:02:29We had that Wild day on Tuesday and then an inside day on Wednesday.
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00:02:33We are trading lower in the pre-market this morning.
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00:02:36Somewhere between 2.5% and 3%, That won't be enough to give us a Sell signal.
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00:02:42On the right side chart.
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00:02:43We need to close blow 97.36.
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00:02:45Of course, we've mentioned before that
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00:02:47if you're training crude oil, you probably don't want to use this chart.
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00:02:50You want to probably take a more conservative, look at the market and use the midterm chart. L Loking at are big winners from May, Cenovus Energy continue to move higher, a new closing high for Cenovus Energy and a new
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00:03:01closing
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00:03:01high for Devon Energy on Wednesday. Continuing with commodities, the price of gold traded through the lower channel line on yesterday, but then closed up on the day.
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00:03:11It is currently trading higher in the pre-market
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00:03:14this morning.
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00:03:14Now, the price of gold is stuck in a range between 1812, 50 and 1875.
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00:03:19If we can break out above 1875, then 2,000, certainly comes into play.
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00:03:24If we break down below 1812.50, then we're looking down to 1687.50.
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00:03:30Now, for those of you who are bullish and we are on a buy signal right now,
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00:03:33so we want to be bullish.
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00:03:34Unfortunately, we're stuck at the 200-day moving average and do we got to get up and over all of the moving average resistance.
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00:03:42And so far, we have not been able to get up over the 200-day, moving average resistance.
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00:03:49Speaking of gold and gold stocks.
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00:03:50We had Yamana Gold pop the other day on a takeover offer.
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00:03:53Our next Target was 7.03.
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00:03:56If you had an order in to sell at 7.03, it got executed at the open at 7.33.
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00:04:01So congratulations! And where do we get to when we traded up, into the open Gap and reversed,
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00:04:07even with that the Takeover offer. And where did we end up yesterday? Right at our price target of 7.03.
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00:04:16Now, of course, the other side of the trade is a gold fields. A
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00:04:20We knew it was going to Gap lower the other day.
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00:04:23So if you saw that buy signal, if you were waiting to buy gold fields and you saw that buy signal, of course, you come in, you check the pre-market activity.
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00:04:31And you would just wave that off. Yesterday was fairly quiet day for gold fields, the stock had an inside day or a day of indecision.
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00:04:41The Gold Miners ETF GDX is still on a buy signal, but on the TSX, the ishares for the TSX
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00:04:47Global gold index are on a Sell signal. Second day of a Sell signal for that stock.
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00:04:51Now, I understand the Gold Fields is in both of these ETFs, but that seemed to hurt the Canadian
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00:04:58one more than the US ETF.
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00:05:01Looking at the Big Cap Tech stocks we like to follow.
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00:05:04Apple is still on a buy signal.
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00:05:06But unfortunately, it's stuck at 150.
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00:05:08And where is 150? Well, that would be the March low. Then looking at Shopify. Shopify Iin
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00:05:15Canada generated a Buy Signal the other day.
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00:05:18And we talked about the fact that it was a very weak buy signal.
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00:05:21And, of course, it happened
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00:05:23when there was no adult supervision from the US market.
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00:05:26So the US listing for Shopify, there's still no buy signal there yet.
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00:05:31The Canadian listing
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00:05:32is trading back in the channel
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00:05:34yesterday down 3.69%.
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00:05:37So no major selling so far for Shopify.
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00:05:39Still treading water here, waiting for something to happen.
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00:05:43Tesla is still on a buy signal. Tesla is having trouble at 7:50.
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00:05:47And of course, where is 750? Right at the March lows.
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00:05:51So what was previously support, often acts as resistance on the way back up. And of course, if we can start breaking out above 750,
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00:05:59well, guess what? 875 is our next Target. And that previously acted as support and that is going to be a huge Wall of Resistance,
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00:06:08If we can continue higher above 750.
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00:06:11okay folks, that's all for this morning's presentation.
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00:06:14Have a great day.
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00:06:15Next time you hear my voice is on Friday morning.