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It's Stephen Whiteside here from the uptrend, with today's edition
It's Stephen Whiteside here from the uptrend, with today's edition of stock market timing television in Des Moines presentation
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We've now started to a translate, the pre-market videos into
We've now started to a translate, the pre-market videos into Arabic Chinese, French and Spanish
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If you want to watch the videos in those languages,
If you want to watch the videos in those languages, just come to our website, the uptrend
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Calm and sign up to our free pre-market video newsletters,
Calm and sign up to our free pre-market video newsletters, all this weekend proves that sometimes you get what you expect, we expected the market to have a bullish bias this week going into a three-day long
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It doesn't mean the Market's going to move up but
It doesn't mean the Market's going to move up but this week it did now on Friday
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Things should be fairly quiet as a lot of the
Things should be fairly quiet as a lot of the Traders and investors are going to leave early for their long weekend
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Doesn't mean the Market's going to close lower on the
Doesn't mean the Market's going to close lower on the day, but don't expect a lot of upward movement on Friday
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Why does month-end have a bullish bias? Well, if you've
Why does month-end have a bullish bias? Well, if you've ever had the payroll deduction from your paycheck to go into a retirement account, of course, that money going into retirement accounts often makes its way into
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the stock market and of course, Traders know that and
the stock market and of course, Traders know that and they don't typically want to trade against that automatic money
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Thursday's trading action did generate a lot of new short
Thursday's trading action did generate a lot of new short term daily buy signals and my enthusiastic about those new by signals
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What you don't want to do though is sit on
What you don't want to do though is sit on the wrong side of the market
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So if you were short something if you are long
So if you were short something if you are long a bear ETF the generated, a cell signal, yesterday, you need to take that cell signal and then of course the bull ETFs generated by signals
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What you don't want to do is go in a
What you don't want to do is go in a hundred percent and certainly don't want to go in a hundred fifty percent with margin
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So right now if you're going to take signals on
So right now if you're going to take signals on Friday morning go in a quarter, take a quarter position, if you're going to buy 100 shares of something by 25
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If we come back next week in the market wants
If we come back next week in the market wants to continue to move higher every day that the market continues or your particular symbol continues to close above, the upper channel line
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Now, one of the things I was concerned about was
Now, one of the things I was concerned about was that the Dow was going to lead the market higher and of course, the Dow gets them
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And when the risk-on trade is back on, now, that's
And when the risk-on trade is back on, now, that's usually when it's the easiest time for everybody to make money
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So here we are, we've got all the three major
So here we are, we've got all the three major US indices back on a daily by signal
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Now, of course, the pros are not in control yet
Now, of course, the pros are not in control yet that could happen next week and that would certainly add to our enthusiasm about the overall Market condition at the present time
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Now, the keys for the NASDAQ are not up at
Now, the keys for the NASDAQ are not up at resistance on our charts, but they are up at psychological resistance
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The vix is on a cell signal right now, that's
The vix is on a cell signal right now, that's supportive for higher stock prices
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So, looking at what the options Traders think, some stress
So, looking at what the options Traders think, some stress has come off the market
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According to options, Traders, and that could help the market
According to options, Traders, and that could help the market move up during the month of June
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So just keep that in mind, you know, the thing
So just keep that in mind, you know, the thing I say and I'm going to stay on the weekend is, did we close above the previous week's high? So far? We have not
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I will update the weekly charts Friday night, will be
I will update the weekly charts Friday night, will be posted on Saturday morning
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The Canadian Market is trading above the previous week's high
The Canadian Market is trading above the previous week's high at the moment
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And of course, why is that while energy stocks continue
And of course, why is that while energy stocks continue to move higher
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Now? There's a lot of risk in energy stocks at
Now? There's a lot of risk in energy stocks at the moment or something happens over in the Ukraine or if something happened to Putin, of course, that could that quickly reversed Energy prices and cyndie stocks
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And you know, you might have seen this headline yesterday
And you know, you might have seen this headline yesterday that the UK is a putting on a windfall tax on energy companies over in UK that could spread around the world and they could come to
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I haven't seen a lot of downward pressure on the
I haven't seen a lot of downward pressure on the energy stocks over in the UK so far, but that could come in anytime now
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Now, looking at my five stock still waiting for Apple
Now, looking at my five stock still waiting for Apple degenerative by signal here
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So if we went on to a Buy Signal, I
So if we went on to a Buy Signal, I don't have to buy a whole position back
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So every day that a perch and line has continued
So every day that a perch and line has continued to move lower, now the CME Group but we traded right up to the Opera Channel on yesterday
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So we're less than a dollar away from generating a
So we're less than a dollar away from generating a new bicycle on Friday
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I know joy for alphabet, still do trading and closing
I know joy for alphabet, still do trading and closing below, the lower channel line
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Now, I am currently long Goldman Sachs and we're looking
Now, I am currently long Goldman Sachs and we're looking to take money
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Off the table at the three 2813 and then 34375
Off the table at the three 2813 and then 34375 nephew look up at 34375 level
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And if the Market's going to move higher from here,
And if the Market's going to move higher from here, that's probably where it's going to stop
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I'm currently long Visa, trying to get to 3 to
I'm currently long Visa, trying to get to 3 to 12:50, and then to 1875
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Or are you staying at the moment? Next up? Let's
Or are you staying at the moment? Next up? Let's take a look at the ark
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Certainly, if the market continues to move higher on Friday
Certainly, if the market continues to move higher on Friday that there might be some on Friday
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If you're following this ETF, I would wait for the
If you're following this ETF, I would wait for the next closed above the effort in line before jumping in that retail stocks are back in the news this morning and yesterday
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The markets were to let higher Yesterday by a couple
The markets were to let higher Yesterday by a couple of retail stocks Dollar Tree and Dollar General
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But, you know, the way that we teach shorting and
But, you know, the way that we teach shorting and I try to get everybody to learn how to short stocks, and also by the bear ETF, because you should be able to make money, no matter
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So, when are you looking to short a stock first
So, when are you looking to short a stock first thing you're looking for is a we're up at the top of the panic zones
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An early-warning signal is gone off and then the trend
An early-warning signal is gone off and then the trend starts to change
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And so when we get to cell signal on the
And so when we get to cell signal on the right side chart, that's when you can start shorting a stock, you don't do it because it's up at the top of the panic songs
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You do it because the trend has changed from those
You do it because the trend has changed from those levels now that a stock is coming down
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So as its falling, you want to buy back and
So as its falling, you want to buy back and Buy back, the majority of your shares after it starts falling
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So at the first price Target, you're buying back, at
So at the first price Target, you're buying back, at least half of your position
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Now when it continues to fall, of course, and in
Now when it continues to fall, of course, and in this case, I got right back down to support from a couple of months ago
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And once it gets down to the bottom of the
And once it gets down to the bottom of the panic Zone, that's when a lot of the retail investors
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After they start shorting, that's when you get a short-covering
After they start shorting, that's when you get a short-covering rally and the stock pops against them
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And of course, if you ask the average retail investor
And of course, if you ask the average retail investor about shorting, they'll tell you horror stories of where they shorted and the market took off and they lost a lot of money
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Now, if you were doing it, the way that we
Now, if you were doing it, the way that we do it, If you still had any shares left yesterday, you've only got a handful of shares
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So yes, this, the market popped it went against you
So yes, this, the market popped it went against you but you've already locked in a lot of profits along the way
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And so what happened? Yesterday should have very little impact
And so what happened? Yesterday should have very little impact on your profit and loss statement and other retail stock in the news this morning
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And, of course, you know, any pre-market numbers that I
And, of course, you know, any pre-market numbers that I give you were going to change
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We do have the Gap trading down the 17, 18
We do have the Gap trading down the 17, 18 19 per cent in the pre-market
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Let's that finish up Chase presentation with just a couple
Let's that finish up Chase presentation with just a couple of more topics
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If you're watching the Canadian presentation, I belittled a couple
If you're watching the Canadian presentation, I belittled a couple of Canadian energy stocks that were at the top of the most active list
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And the reason for that was because this chart is
And the reason for that was because this chart is really, really ugly who's in control the pros
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Into the problem is to stop being a traitor and
Into the problem is to stop being a traitor and start considering being an investor in these companies
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If you read about these companies, if these kind of
If you read about these companies, if these kind of companies came up on your list of energy stocks to follow, then you don't stop looking at the daily chart
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Look at the weekly chart, the weekly chart can smooth
Look at the weekly chart, the weekly chart can smooth out a lot of the ugly daily action
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So when you look at the weekly chart for crescent
So when you look at the weekly chart for crescent point or the weekly chart for a White Cap, you can see, it's a much easier to deal with
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And of course, if you move over to the weekly
And of course, if you move over to the weekly right side charts, you know, all of that ugly daily action for White Cap in for crescent Point has been smoothed out
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So sometimes so stocks not worth trading, but it still
So sometimes so stocks not worth trading, but it still might be worth following and still might be worth investing in
-
So, you know, you don't have to always rely on
So, you know, you don't have to always rely on The Daily charge that the daily charge
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Look at the weekly chart so weekly charts can smooth
Look at the weekly chart so weekly charts can smooth out a lot of the ugly dailypriceaction
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Last up for church this morning, and the cryptocurrencies, both
Last up for church this morning, and the cryptocurrencies, both Bitcoin and ethereum
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And last time I checked, they were trading down slightly
And last time I checked, they were trading down slightly in the pre-market on Friday morning for this morning's presentation
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I have been very actively involved in by a hacking
I have been very actively involved in by a hacking over the past 10 years
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I don't want that for my wife, you know, hopefully,
I don't want that for my wife, you know, hopefully, she's not listening
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We probably have about $35,000 worth of biohacking equipment in
We probably have about $35,000 worth of biohacking equipment in the house
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At the moment that might seem a lot to some
At the moment that might seem a lot to some people, but, you know, you can spend a lot more money
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The one thing that I absolutely can guarantee works is
The one thing that I absolutely can guarantee works is when you donate blood, your body will automatically make new blood
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And that is the biggest biohacking chip that I can
And that is the biggest biohacking chip that I can give somebody it is guaranteed to work and it doesn't cost a single Cent and one of the reasons I want to promote this so much as
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I want you to live a long happy life with
I want you to live a long happy life with the fewest number of medical conditions that you have to deal with as you get older and donating blood is by far
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If, you know, if you're a sports fan, you're going
If, you know, if you're a sports fan, you're going to find very few people to talk about sports with in a retirement home
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00:00:04Good morning everyone.
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00:00:05Welcome to Friday morning.
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00:00:06It's Stephen Whiteside here from TheUptrend.com with today's edition of Stock Market Timing Television. In this morning's presentation.
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00:00:13we will do a little catch-up. In the premarket this morning.
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00:00:16Stock index Futures are slightly above fair-value.
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00:00:18It's fairly quiet out there on Friday morning.
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00:00:21Just a quick reminder.
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00:00:23we have now started to a translate the pre-market videos into Arabic, Chinese, French and Spanish.
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00:00:30If you want to watch the videos in those languages, just come to our website, the uptrend.com
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00:00:35and sign up to our free pre-market video newsletters. This week proves that sometimes you get what you expect. We expected the market to have a bullish bias this week going into a three-day long
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00:00:48weekend, and that's certainly what happened.
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00:00:51This is still a Beer Market.
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00:00:52It doesn't mean the Market's going to move up but this week it did. Now on Friday
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00:00:57things should be fairly quiet as a lot of the Traders and Investors are going to leave early for their long weekend.
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00:01:04So we should expect the volume and
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00:01:08Enthusiasm to decline on Friday.
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00:01:11It doesn't mean the Market's going to close lower on the day, but don't expect a lot of upward movement on Friday.
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00:01:17And of course we're coming into month-end.
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00:01:19Why does month-end have a bullish bias? Well, if you've ever had the payroll deduction from your paycheck to go into a retirement account, that money going into retirement accounts often makes its way into.
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00:01:32the stock market. And of course, Traders know that and they don't typically want to trade against that automatic money.
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00:01:40that is going to hit the market at month-end now.
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00:01:43Thursday's trading action did generate a lot of new short term daily buy signals and am I enthusiastic about those new Buy signals?
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00:01:51Absolutely not.
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00:01:53What's happening right
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00:01:54now, of course, is going to be another bear Market rally.
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00:01:57Nothing fundamental has changed.
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00:01:59We are coming into a 3-day long weekend.
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00:02:01We are coming into month-end. The market
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00:02:04has a bullish bias and getting new Buy signals is not surprising.
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00:02:08What you don't want to do though is sit on the wrong side of the market.
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00:02:11So if you were short something or if you are long a bear ETF that generated, a Sell signal, yesterday, you need to take that Sell signal and then of course Buy the bull ETFs if they generated Buy signals.
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00:02:22What you don't want to do is go in a hundred percent, and certainly don't want to go in a hundred fifty percent with margin.
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00:02:29So right now if you're going to take signals on Friday morning, go in a quarter. Take a quarter position. If you're going to buy 100 shares of something Buy 25.
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00:02:38If we come back next week and the market wants to continue to move higher, every day that the market continues or your particular symbol continues to close above, the upper channel line
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00:02:49you can add to the position. But don't go fully in on Friday.
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00:02:54It's too risky to do that at the moment.
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00:02:57Now, one of the things I was concerned about was that the Dow was going to lead the market higher and of course. The Dow gets
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00:03:03the most media attention.
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00:03:05It gets the public excited about the market.
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00:03:08The reality is that, of course, the S&P 500 is lot broader.
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00:03:11And then the NASDAQ,
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00:03:12that's where all the risk is.
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00:03:14And we really want the NASDAQ to lead the market higher.
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00:03:17That tells us the markets lot healthier.
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00:03:19It tells us that the risk-on trade is back on.
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00:03:22And when the risk-on trade is back on, that's usually when it's the easiest time for everybody to make money.
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00:03:29So here we are, we've got all the three major US indices back on a daily Buy signal.
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00:03:34We also have the Canadian Market back on a Buy signal, but just barely.
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00:03:38So no, not enthusiastic at all about what happened yesterday.
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00:03:41Now, of course, the pros are not in control. That could happen next week and that would certainly add to our enthusiasm about the overall Market condition at the present time.
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00:03:53So for Ishares for the TSX 60, we're stuck at 31. 25.
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00:03:57Once again, that's an important number on the daily chart.
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00:04:01So if we can move on from here than 32.03.
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00:04:04Our next Target for the SPY ETF
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00:04:07is 421.88.
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00:04:10Of course, we're stuck at resistance, at the moment.
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00:04:12We'll have to see if we can get over that.
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00:04:14Now, for the NASDAQ are not up at resistance on our charts, but they are up at psychological resistance.
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00:04:22So, we closed just below 300, if we can start the breakout above 300.
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00:04:27Once again, then $312.50 comes into play.
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00:04:31Now.
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00:04:32The VIX is on a Sell signal right now, that's supportive for higher stock prices.
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00:04:35So, looking at what the options Traders think, some stress has come off the market.
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00:04:40According to options Traders, and that could help the market move up during the month of June.
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00:04:46Now, so far this week
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00:04:48it has been an inside week for the S&P 500 and for the NASDAQ.
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00:04:52So just keep that in mind, you know the thing I say and I'm going to stay on the weekend is, did we close above the previous week's high? So far we have not.
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00:05:01Now I made these charts manually this morning.
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00:05:04So they're not on the website.
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00:05:05They'll be posted tomorrow.
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00:05:06We will update the weekly charts Friday night, will be posted on Saturday morning.
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00:05:11And then look at the Canadian Market.
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00:05:13The Canadian Market is trading above the previous week's high at the moment.
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00:05:18And of course, why is that? Bnergy stocks continue to move higher.
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00:05:23Now, there is a lot of risk in energy stocks at the moment. Something could happen over in the Ukraine or something could happen to Putin Of course that could that quickly reversed Energy prices and send energy stocks.
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00:05:36tumbling.
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00:05:37There's another risk out there.
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00:05:38And you might have seen this headline yesterday. The UK is a putting on a windfall tax on energy companies over in UK that could spread around the world and that could come to
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00:05:50North America anytime soon.
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00:05:52I haven't seen a lot of downward pressure on the energy stocks over in the UK so far, but that could come in anytime now.
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00:06:01And that could also roll over into the North American markets as well.
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00:06:06So just be aware of that.
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00:06:08Now, looking at my five stock. Still waiting for Apple to generate a Buy signal here.
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00:06:13So I'm still short Apple.
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00:06:14I have a partial position left.
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00:06:16So if we went on to a Buy Signal, I don't have to buy a whole position back.
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00:06:20if you remember last weekend.
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00:06:21We were looking at Apple and looking for a close above 150 and change.
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00:06:25So every day the upper channel line has continued to move lower. Now the CME Group traded right up to the upper channel line yesterday.
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00:06:33So we're less than a dollar away from generating a new Buy Signal on Friday.
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00:06:36No joy for alphabet, still trading and closing below the lower channel line.
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00:06:41Now, I am currently long Goldman Sachs and we're looking to take money
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00:06:46off the table at the 328.13 and then 343.75 now look up at 343.75 level
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00:06:54That is a major area of resistance.
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00:06:56And if the Market's going to move higher from here, that's probably where it's going to stop.
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00:07:01And then last up of my five stocks.
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00:07:03I'm currently long Visa, trying to get to 212.50, and then 218.75.
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00:07:09That's where I have my sell orders.
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00:07:10Next up. Let's take a look at the ARK
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00:07:14Invest ETFs.
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00:07:17None of the major ones generated Buy signals yesterday.
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00:07:20Certainly, if the market continues to move higher on Friday there might be some on Friday.
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00:07:24One of the minor ones and one of the newest ones
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00:07:28Space
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00:07:29Exploration
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00:07:30ETF did actually close above the upper Channel.
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00:07:33By two pennies.
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00:07:34Certainly no enthusiasm there.
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00:07:36If you're following this ETF, I would wait for the next closed above the upper channel line before jumping in. Retail stocks are back in the news this morning and yesterday.
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00:07:46looking at the performance report.
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00:07:47The markets were to lead higher yesterday by a couple of retail stocks, Dollar Tree and Dollar General.
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00:07:54Both gapped higher on Thursday.
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00:07:58And of course, if you were short, those that looks painful.
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00:08:01But, you know, the way that we teach shorting, and I try to get everybody to learn how to short stocks, and also Buy the bear ETFs, because you should be able to make money, no matter
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00:08:11which way the market is going.
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00:08:12So, when are you looking to short a stock first thing you're looking for is a we are trading up at the top of the panic zones.
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00:08:18An early-warning signal is gone off and then the trend starts to change.
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00:08:22And so when we get to Sell signal on the right side chart, that's when you can start shorting a stock. You don't do it because it's up at the top of the panic zones.
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00:08:30You don't do it because an early warning signals has gone off.
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00:08:33You do it because the trend has changed from those levels and the stock is coming down.
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00:08:40And you want to buy it back on the way down.
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00:08:43So as its falling, you want to buy back the majority of your shares after it starts falling.
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00:08:50So at the first price Target, you're buying back, at least half of your position.
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00:08:54and when it continues to fall, of course. And in this case, I got right back down to support from a couple of months ago.
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00:09:01That's when the public wants to start shorting.
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00:09:03Why? Because now, they have evidence that this stock is weak.
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00:09:08And once it gets down to the bottom of the panic Zones, that's when a lot of the retail / investors /
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00:09:12Inexperienced investors have enough confidence to short.
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00:09:16A stock.
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00:09:17Of course.
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00:09:18What often happens is right
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00:09:20after they start shorting, that's when you get a short-covering rally and the stock pops against them.
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00:09:26And of course, if you ask the average retail investor about shorting, they'll tell you horror stories of where they shorted and the market took off and they lost a lot of money.
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00:09:35Now, if you were doing it the way that we do it, If you still had any shares left yesterday, you've only got a handful of shares.
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00:09:42So yes, the market popped against you, but you've already locked in a lot of profits along the way.
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00:09:49And so what happened? Yesterday should have very little impact on your profit and loss statement. Other retail stocks are in the news this morning.
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00:09:57And, of course, you know, any pre-market numbers that I give you were going to change.
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00:10:01By the time, you see this video.
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00:10:02We have the Gap trading down the 17, 18 19 per cent in the pre-market.
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00:10:08So that's not going to change the trend at all for Gap.
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00:10:11If you're still short this stock.
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00:10:12No reason to do anything on Friday.
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00:10:14Let's that finish up this presentation with just a couple of more topics.
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00:10:18The other day.
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00:10:20if you were watching the Canadian presentation, I belittled a couple of Canadian energy stocks that were at the top of the most active list.
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00:10:27And the reason for that was because this chart is really, really ugly. Who is in control the pros
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00:10:33or the public is really, really sloppy.
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00:10:35I should have given you a solution to this problem. And the solution
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00:10:38to this problem is sometimes you have to stop being a traitor and start considering being an investor in these companies.
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00:10:44If you read about these companies, if these kind of companies came up on your list of energy stocks to follow, then you stop looking at the daily chart.
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00:10:54Look at the weekly chart, the weekly chart can smooth out a lot of the ugly daily action.
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00:10:58So when you look at the weekly chart for Crescent Point or the weekly chart for a White Cap, you can see, it's a much easier to deal with.
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00:11:06And of course, if you move over to the weekly right side charts, all of that ugly daily action for White Cap in for Crescent Point has been smoothed out.
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00:11:16So sometimes some stocks not worth trading, but it still might be worth following and still might be worth investing in.
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00:11:22So, you know, you don't have to always rely on The Daily charts when the daily charts
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00:11:27look ugly.
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00:11:27Go
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00:11:27look at the weekly chart. The weekly charts can smooth out a lot of the ugly daily price action.
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00:11:33Last up for this morning, cryptocurrencies, both Bitcoin and Ethereum
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00:11:38still on daily Sell signals.
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00:11:40And last time I checked, they were trading down slightly in the pre-market on Friday morning.
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00:11:48Just the last comment, biohacking is a really hot topic right now.
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00:11:52Of course, a lot of people want to look after their personal health.
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00:11:56I have been very actively involved in bio hacking over the past 10 years.
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00:12:05I don't want that for myself.
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00:12:06I don't want that for my wife. Yopefully, she's not listening.
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00:12:10We probably have about $35,000 worth of biohacking equipment in the house.
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00:12:16At the moment that might seem a lot to some people, but, you know, you can spend a lot more money.
-
00:12:22
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00:12:23it can be a very expensive thing to get involved in.
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00:12:26The one thing that I absolutely can guarantee works, is when you donate blood, your body will automatically make new blood.
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00:12:49I want you to live a long happy life with the fewest number of medical conditions that you have to deal with as you get older, and donating blood is by far
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00:12:59the best thing you can do for yourself.
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00:13:01As you get older, especially if you're a man.
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00:13:05Now, if you're a man and you've never been to a retirement home.
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00:13:08You should probably visit one soon.
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00:13:11And then just count the number of men versus the number of women.
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00:13:15You will be shocked.
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00:13:16If you're a sports fan, you're going to find very few people to talk about sports with in a retirement home.
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00:13:23It's not the way that you imagine it is.
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00:13:27So yeah, donating blood biggest biohacking tip
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00:13:31I can give you and absolutely the cheapest one.
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00:13:34you can participate in. OK
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00:13:37That's all for this morning's presentation.
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00:13:39Enjoy the rest of the day.
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00:13:40If you're in the US, enjoy your long weekend.
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00:13:43Next time, you'll hear my voice is on Sunday.