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00:00:00Good morning everyone, and welcome to Friday morning.
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00:00:03It's Stephen Whiteside here from the uptrend.com. In the pre market this
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00:00:07morning, stock index futures are down across the board.
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00:00:10Commodities are mixed with crude oil
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00:00:11higher, while gold is slightly lower on Friday morning.
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00:00:15Now I'm doing this video ahead of the payroll numbers that come out at 830 this
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00:00:19morning and they could certainly add to the pre market volatility.
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00:00:24Looking at the VIX, we're going to remain short term bearish on the market as long
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00:00:28as the VIX does not close below 12.77 on Friday.
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00:00:33Now the DOW 30 and the TSX 60 are still holding up.
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00:00:37No change in trend for either of those.
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00:00:39The S&P 500 already on a sell signal, no change there.
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00:00:43Big reversal day yesterday for the energy sector on both sides of the border.
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00:00:48We're still on buy signals, no change there.
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00:00:51Then looking at technology stocks with the Nasdaq 100 continuing to move lower, the
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00:00:57Equal Weighted and the Next Generation are both down as well.
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00:01:01Not as much yesterday as the Nasdaq 100, but chip stocks continue to lead the tech
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00:01:07sector lower with semiconductors down 1.73% on the day.
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00:01:13Then looking at the big elephant in the room, Apple.
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00:01:16Apple continued to move lower on Thursday, making a new low for this move.
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00:01:21Looking at Canadian Infotech, we actually closed higher yesterday.
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00:01:26Didn't get any help from BlackBerry but did get a lot of help from Shopify which
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00:01:31was up on the day after making a new low for this move.
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00:01:35Now looking at the TSX, most actives from Thursday's trading action, we've got the
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00:01:39TD Bank still on a buy signal, no change there.
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00:01:42TC Energy continued to move higher on Thursday.
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00:01:46Baytex had a pullback, still on a buy signal, no change there.
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00:01:50Then we had Cenovus come down and
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00:01:52Cenovus is now back on a sell signal as of Thursday's close.
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00:01:56Bank of Nova Scotia still on a buy signal
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00:01:58here, that would change on Friday with a close below $62.80. Then Manulife still on
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00:02:05a buy signal, that would change on Friday with a close below $28.77. New high for
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00:02:11this move for Suncor ran up, hit the next price target of $45.
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00:02:1531. Congratulations if you're long.
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00:02:18Suncor.
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00:02:19Then looking at Enbridge, new high for Enbridge on Thursday.
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00:02:23Looking at First Quantum, a small pullback yesterday, down just 1.81% on the day.
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00:02:29So no major change there.
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00:02:31And then Bitfarms, Bitfarms been trading
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00:02:35around the lower channel line for the last couple of days.
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00:02:37Looking for a close on Friday below $3.71.
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00:02:43Let's finish off this morning's presentation.
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00:02:45Taking a look at the US most actives from
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00:02:47Thursday's trading action and Quantumscape.
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00:02:50The battery company had a huge update, up over 40%.
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00:02:54Obviously you're not going to chase that.
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00:02:57Then Tesla had an inside day.
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00:02:59No change there.
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00:03:01Marathon digital still on a buy signal here.
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00:03:04That would change on Friday with a close
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00:03:05below $22.92. Then we saw Walgreens gap lower on the day.
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00:03:12Trying to recover going into the close, but still a big loss for Walgreens.
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00:03:17Back on a sell signal.
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00:03:19Advanced Micro Devices, no change in trend there.
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00:03:22Amazon, no change in trend.
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00:03:24No change in trend for Ford.
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00:03:26Then we've got Pure Storage.
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00:03:28And on Tuesday, Pure Storage actually ended on a sell signal.
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00:03:32You come in the next morning, you check the spread in the pre market, you find out
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00:03:37it's going to open up up there so you don't take that sell signal.
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00:03:40So no change in trend for Pure Storage.
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00:03:43Then we've got intel still on a sell signal, no change there.
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00:03:47Pfizer, still on a buy signal, no change there.
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00:03:50And then we've got Palantir still on a
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00:03:53sell signal, making a new low for this move on Thursday.
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00:03:56So no change in trend for Palantir.
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00:03:59Okay folks, that is all for this morning's presentation.
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00:04:03So far. It looks like the market wants to do a
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00:04:05little selling, but that could change when those employment numbers come out at 830.
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00:04:09Have a great day, have a great weekend.
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00:04:11Next time you'll hear my voice
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00:04:13is on Monday morning channel.