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This morning stock index, Futures are down across the board,
This morning stock index, Futures are down across the board, Dow futures, currently down just under six hundred points
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And of course, Wednesday was fed day and we are
And of course, Wednesday was fed day and we are expecting volatility to expand
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that is certainly what happened? Look at how big that
that is certainly what happened? Look at how big that the bar is for the Vicks compared to the previous couple of days as so, we're we're still looking for clothes, blow 2674 on Thursday for the
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Vixen, certainly not expecting that from what we're seeing in
Vixen, certainly not expecting that from what we're seeing in the pre-market this morning
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We are expecting the market to trade up into one
We are expecting the market to trade up into one of the Open gaps in it traded up to the bottom of the open Gap yesterday
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It is down around 91 points in the flea market
It is down around 91 points in the flea market on Thursday morning, so we may be making new Lowe's on Thursday
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Now, moving on to the Canadian Market that the TSX
Now, moving on to the Canadian Market that the TSX made a new low yesterday, we had a new low for the TSX 60 inside day for mid-caps inside day for small caps, and a new low
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Infotech, base metals and consumer, discretionary were the big winners
Infotech, base metals and consumer, discretionary were the big winners
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Moving on to the most actively traded stocks from Wednesday's
Moving on to the most actively traded stocks from Wednesday's trading action, starting off with Canadian natural resources, fourth day of a cell signal you can see the bearish reversal signals, did a nice job marking the
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top for this particular move and then you can see
top for this particular move and then you can see that we hit a double top up there at 8750
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We're currently holding the fly paper channel, so this is
We're currently holding the fly paper channel, so this is the time and place, we're looking for money to come back into the stock
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Notice, the average true range is a percentage for this
Notice, the average true range is a percentage for this particular stock is up 363%
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compared that to the next stock on the most active
compared that to the next stock on the most active list, which the average to range is only 174%
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Notice the differences between the price targets, are going to
Notice the differences between the price targets, are going to be much smaller in percentage terms for TC energy than Canadian natural resources
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The early-warning signal, all were helpful to get you mentally,
The early-warning signal, all were helpful to get you mentally, prepared it to sell this stock
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And now we're on that 50 of the cell signal,
And now we're on that 50 of the cell signal, for TC energy, certainly, not looking for anything like a Buy Signal on Thursday
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Next up were looking at Suncor third day of a
Next up were looking at Suncor third day of a cell signal trying to hold $50
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yesterday if that breaks than 4688 and 4375 come into
yesterday if that breaks than 4688 and 4375 come into play, looking at Athabasca oil, sands we're still on a by signal here
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Looking for clothes, blow 296 on Thursday to give us
Looking for clothes, blow 296 on Thursday to give us a cell signal looking at cenovus energy third day of a cell signal
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We're breaking down below 2813 $25 in 2188 will come
We're breaking down below 2813 $25 in 2188 will come into play if we continue to move lower from here and then we're looking at Crescent Point
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First day of a cell signal for crescent point, trying
First day of a cell signal for crescent point, trying to hold 1172 is that breaks than 10 94 1016 coming to play? Our next stop is baytex energy, which generated a cell signal closing, just below
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If I 781 starts to break and we closed right
If I 781 starts to break and we closed right at 78703 and 625 coming to play
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Next up, for all the gas income, trust, you can
Next up, for all the gas income, trust, you can see the early-warning signal, go off and we've been on a cell signal for over a week
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Now, making a new low on Wednesday, then we got
Now, making a new low on Wednesday, then we got b2gold and you know the gold sector and not too overly excited
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Either way at the moment it looks like gas stocks
Either way at the moment it looks like gas stocks are starting to break out of the bottom on next up or look at the World Bank
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It's made a new low on Tuesday close slightly higher
It's made a new low on Tuesday close slightly higher on Wednesday, no change there, I can draw
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So just a small game yesterday for Kinross still on
So just a small game yesterday for Kinross still on a cell signal and then last up TD Bank making a new low for this move
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And when you look at this chart, the first thing
And when you look at this chart, the first thing you should notice is this stock has been making a series of lower highs and lower lows
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And yesterday, we made another lower low, looking for supported
And yesterday, we made another lower low, looking for supported 8750 if that breaks than 8438 coming to play
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Okay, folks, that is all for this morning's presentation of
Okay, folks, that is all for this morning's presentation of the Futures have come off their Lowe's
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When I start the presentation, the Dow is down around
When I start the presentation, the Dow is down around 600 is currently down around 475 that number of course is going to change
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By the time, the Market opens have a great day
By the time, the Market opens have a great day next time you hear my voice is on Friday morning
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00:00:22Good morning everyone.
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00:00:23Welcome to Thursday morning.
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00:00:24Stephen Whiteside here from theuptrend.com.
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00:00:26with today's
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00:00:27look at Canadian stock market trends. In the pre-market
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00:00:31this morning stock index futures are down across the board. Dow futures are currently down just under 600 points.
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00:00:37Let's start off with a quick look at the US market.
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00:00:40And of course, Wednesday was a FED day and we are expecting volatility to expand
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00:00:45after 2 pm.
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00:00:46That is certainly what happened. Look at how big that the bar is for the VIX compared to the previous couple of days. We are still looking for close below 26.74 on Thursday for the
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00:00:58VIX. Certainly not expecting that from what we're seeing in the pre-market this morning.
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00:01:04Looking at the S&P 500.
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00:01:05We are expecting the market to trade up into one of the Open gaps. It traded up to the bottom of the first open Gap yesterday.
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00:01:12Yesterday, the S&P 500 was up 54 points and change.
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00:01:16It is down around 91 points in the pre-market on Thursday morning. So we may be making new Lows on Thursday.
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00:01:24Now, moving on to the Canadian Market. The TSX made a new low yesterday. We had a new low for the TSX 60, an inside day for mid-caps, an inside day for small caps, and a new low
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00:01:38from micro-caps.
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00:01:39Moving on to sectors. Starting off with the most important
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00:01:43one right now, which is energy. Which was down another 1.3%
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00:01:48yesterday.
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00:01:48And then what worked? Well it was Healthcare, Cannabis,
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00:01:52Infotech, Based Metals and consumer, discretionary were the big winners.
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00:01:58Of course, there were no Trend changes there.
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00:02:01Moving on to the most actively traded stocks from Wednesday's trading action. Starting off with Canadian Natural Resources, fourth day of a Sell signal. You can see the bearish reversal signals did a nice job marking the
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00:02:14top for this particular move. And then you can see that we hit a double top up there at 87.50.
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00:02:21Now we're looking to see if 75 can hold.
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00:02:24If 75 doesn't hold in 68.75, comes into play.
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00:02:28Look at the moving averages.
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00:02:30You can see that we're holding the 100-day moving average right now.
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00:02:34And the 200-day would certainly come in around the 68.75 level.
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00:02:38We're currently holding the Fly Paper Channel. So this is the time and place, we're looking for money to come back into the stock.
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00:02:45Notice, the Average Trew Range as a percentage for this particular stock is up 3.63%.
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00:02:52Compare that to the next stock on the most active list, which the Average True Range is only 1.74%.
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00:02:59So these two stocks could move
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00:03:01in the same direction, but not with the same
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00:03:04Gusto. They are two completely different stocks. For TC Energy
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00:03:08we're trying to hold 68.75.
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00:03:10Notice the differences between the price targets, they are going to be much smaller in percentage terms for TC Energy than Canadian Natural Resources.
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00:03:19If we break 68.75, then 65.63 comes into play.
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00:03:25Notice a Barash Reversal Signals on the top of the screen.
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00:03:28The early-warning signal, all were helpful to get you mentally, prepared it to sell this stock.
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00:03:35And now we're on that 5th day of the Sell signal for TC Energy. Certainly not looking for anything like a Buy Signal on Thursday.
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00:03:43Next up were looking at Suncor. Third day of a Sell signal, trying to hold $50.
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00:03:48We closed at $50.02
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00:03:50yesterday. If that breaks, then 46.88 and 43.75 come into play. Looking at Athabasca Oil Sands, we're still on a by signal here.
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00:04:01Looking for close below 2.96 on Thursday to give us a Sell signal. Looking at Cenovus Energy, third day of a Sell Signal.
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00:04:10We're breaking down below 28.13, so $25 in 21.88 will come into play if we continue to move lower from here. And then we're looking at Crescent Point.
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00:04:21First day of a Sell signal for Crescent Point, trying to hold 11.72. If that breaks than 10.94, 10.16 come into play. Our next stock is Baytex Energy, which generated a Sell signal closing just below
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00:04:35the lower Channel Line on Wednesday.
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00:04:37If 7.81 starts to break and we closed right at 7.80 then 7.03 and 6.25 come into play.
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00:04:45Next up, AltaGas Income Trust, you can see the early-warning signal go off. And we've been on a Sell signal for over a week.
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00:04:53Now making a new low on Wednesday. Then they we've got b2gold, and you know the gold sector is not something that I'm excited about right now.
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00:05:01Either way at the moment it looks like gold stocks are starting to break out of the bottom. Next up were looking at the Royal Bank of Canada.
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00:05:08It's made a new low on Tuesday close slightly higher on Wednesday. No change there.
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00:05:15So just a small game yesterday for Kinross, still on a Sell signal. And then last up, the TD Bank making a new low for this move.
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00:05:23And when you look at this chart, the first thing you should notice is this stock has been making a series of lower highs and lower lows.
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00:05:31And yesterday, we made another lower low. Loking for support at 87.50. If that breaks than 84.38 comes into play.
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00:05:40Okay, folks, that is all for this morning's presentation. The Futures have come off their earlier lows.
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00:05:46When I start the presentation, the Dow is down around 600, it is currently down around 475. That number of course is going to change
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00:05:55by the time, the Market opens. Have a great day next time you hear my voice is on Friday morning.