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While the vix is down around, 1% and commodities are
While the vix is down around, 1% and commodities are also trading lower on Thursday morning
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This morning's presentation taking a look at the US market
This morning's presentation taking a look at the US market and the vixa closed lower yesterday
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So there's only the possibility of a cell signal for
So there's only the possibility of a cell signal for the Vicks on Thursday, with the clothes
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Blow, 2840, now, we're still waiting for by Susan's for
Blow, 2840, now, we're still waiting for by Susan's for the major index ETFs for the Dow diamonds were looking for clothes about three, 12:36 for the spider ETF, for the S&P 500, we're looking for a
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close above, 38551 for the cues for the NASDAQ, we're
close above, 38551 for the cues for the NASDAQ, we're looking for a close above to 8841 on Thursday
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And that could certainly happen, not expecting any train changes
And that could certainly happen, not expecting any train changes for the ishares for the Russell 2000, or the ishares for the micro-cap sector
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Does the energy sector was once again, the big drag
Does the energy sector was once again, the big drag on the market on Wednesday and with the spider energy ETF down to 4% giving up the games that made on Tuesday and within the energy sector
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What worked on Wednesday will real estate stocks moved up
What worked on Wednesday will real estate stocks moved up and they traded up to the other channel and filled the first open Gap
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So close about 4072 would give us a Buy Signal
So close about 4072 would give us a Buy Signal on Thursday and then the healthcare moved up, but not enough to give us a Buy Signal closing just below the lower channel line and within Healthcare,
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And first day of her by signal for pharmaceuticals, Yes,
And first day of her by signal for pharmaceuticals, Yes, they were looking at a couple of stocks meta, continue to trade lower yesterday, making a new low for this move and Tesla pulled back closing within
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So they're certainly a possibility that Tesla would close above
So they're certainly a possibility that Tesla would close above the upper Channel 9 on Thursday, giving us that second close above, the upper channel line
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We've got energy stocks down over 5% yesterday making a
We've got energy stocks down over 5% yesterday making a new low for this move
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Last week's, low are the TSX, large-caps mid-caps and small-caps
Last week's, low are the TSX, large-caps mid-caps and small-caps and micro-caps are holding last week's loads so far
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If Commodities continue to move lower on Thursday, that could
If Commodities continue to move lower on Thursday, that could change of the financial sector, move down yesterday, Bank stocks move down, gold stocks closed, lower on the day, but you wouldn't really notice
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We're still in the channel That gold is down, $11
We're still in the channel That gold is down, $11 and change in the pre-market this morning
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We saw a new low for base Metals, a new
We saw a new low for base Metals, a new low for materials and Industrials end of the day in the channel
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So, this is only a possibility for a, Buy Signal
So, this is only a possibility for a, Buy Signal for the industrial sector on Thursday, and we saw a lot of the railroads move up yesterday
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So certainly there's a possibility for a, Buy Signal in
So certainly there's a possibility for a, Buy Signal in the info Tech sector on Thursday
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So this sector is starting to settle down on and
So this sector is starting to settle down on and still on a cell signal, not expecting a change on Thursday
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Moving on to Commodities and the big story outside of
Moving on to Commodities and the big story outside of energy is copper continuing to move lower, and as a global economic barometer, it's not going in the right direction
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I gold still trading in the channel, silver still in
I gold still trading in the channel, silver still in the channel that could change on Thursday as we're seeing some selling in the pre-market this morning
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Continue to move lower yesterday, gasoline, I close a slightly
Continue to move lower yesterday, gasoline, I close a slightly lower on the day and then natural, gas had a fairly quiet day on Wednesday
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But suffering shop, today's presentation with Bitcoin and ethereum inside
But suffering shop, today's presentation with Bitcoin and ethereum inside a for Bitcoin inside day for aetherium, so nothing going on there on Thursday morning
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Expecting to see some buying at the open on Thursday
Expecting to see some buying at the open on Thursday morning, whether it's enough to give us new by signals or not
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00:00:00Good morning everyone, and welcome to Thursday morning.
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00:00:02It's Stephen Whiteside here
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00:00:04from TheUptrend.com with today's look at north American Stock Market Trends.
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00:00:08In the premarket this morning, stock index futures are above fair value.
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00:00:12Nasdaq is leading the market higher
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00:00:14on Thursday morning, trading up around 1%, while the VIX is down around 1%.
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00:00:19And commodities are also trading lower on Thursday morning.
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00:00:23Let's start off this morning's presentation.
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00:00:25Taking a look at the US market.
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00:00:27And the VIX closed lower yesterday, down over 4%.
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00:00:31It's down another 1% in the pre market
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00:00:34this morning, so there's certainly the possibility
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00:00:36of a sell signal for the VIX on Thursday with a close below 28.40.
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00:00:41Now we're still waiting for buy signals for the major index ETFs.
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00:00:46For the Dow Diamonds, we're looking for close above 312.36. For the SPDR ETF.
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00:00:51For the S&P 500, we're looking for a close
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00:00:54above 385.51. For the QQQ's for the Nasdaq, we're looking for a close
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00:00:58above 288.41 on Thursday, and that could certainly happen.
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00:01:03Not expecting any trend changes for the
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00:01:05iShares for the Russell 2000, or the iShares for the Microcap sector.
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00:01:11Now, the energy sector was once again
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00:01:13the big drag on the market on Wednesday, with the Energy Select Sector SPDR ETF
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00:01:17down 4%, giving up the gains it made on Tuesday.
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00:01:21And within the
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00:01:24S&P Oil & Gas Equipment & Services was the big loser, down over 6% on the day.
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00:01:28What worked on Wednesday, real estate stocks moved up and they traded up
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00:01:32to the upper channel line, filled the first open gap.
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00:01:35So a close above 40.72 would give us a buy signal on Thursday.
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00:01:40And then healthcare moved up,
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00:01:42not enough to give us a buy signal, closing just below the lower channel line.
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00:01:46And within healthcare, of course, you've got biotech stocks,
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00:01:49second day of a buy signal there, and first day of a buy signal
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00:01:52for pharmaceuticals. Yesterday. We were looking at a couple of stocks.
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00:01:57Meta continued to trade lower yesterday, making a new low for this move.
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00:02:02And Tesla pulled back, closing within the channel.
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00:02:05It is trading up today.
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00:02:06So there's certainly a possibility
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00:02:08that Tesla would close above the upper channel line on Thursday,
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00:02:12giving us that second close above the upper channel line.
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00:02:16Moving on to the Canadian market, and this isn't going to look pretty.
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00:02:19We've got energy stocks down over 5%
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00:02:22yesterday, making a new low for this move, starting to dip below last week's low.
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00:02:28The TSX large caps, mid caps, small caps,
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00:02:32and micro caps are all holding last week's lows so far.
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00:02:35If commodities continue to move lower on Thursday, that could change.
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00:02:40The financial sector moved down yesterday, bank stocks moved down.
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00:02:45Gold stocks closed lower on the day, but you wouldn't really notice.
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00:02:48We're still in the channel now.
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00:02:50Gold is down $11 and change in the pre market this morning,
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00:02:53so I'm not expecting anything from the gold sector on Thursday.
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00:02:57We saw a new loafer base metals,
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00:02:59a new loafer materials and industrials ended the day in the channel.
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00:03:04So there's certainly a possibility
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00:03:05for a buy signal for the industrial sector on Thursday.
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00:03:09And we saw the railroads move up
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00:03:12yesterday, so close above 341.09 would give us a buy signal on Thursday.
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00:03:17And we've got the Nasdaq trading up in the Premarket this morning.
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00:03:21So certainly there's a possibility
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00:03:22for a buy signal in the infotech sector on Thursday.
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00:03:28And last up, telecom stocks they popped the other day,
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00:03:31with Shaw and Rogers moving up, those gains are starting to dissipate.
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00:03:35So this sector is starting to settle down and still on a sell signal.
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00:03:40Not expecting a change on Thursday.
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00:03:43Moving on to commodities.
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00:03:45And the big story outside of energy is copper continuing to move lower.
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00:03:50And as a global economic barometer, it's not going in the right direction.
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00:03:54Gold still trading in the channel.
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00:03:56Silver is still in the channel.
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00:03:58That could change on Thursday as we're
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00:04:00seeing some selling in the pre market this morning.
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00:04:03Then looking at the energies, we saw crude oil continue to move lower yesterday.
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00:04:08Gasoline closed slightly lower on the day,
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00:04:11and then natural gas had a fairly quiet day on Wednesday.
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00:04:15Let's finish off today's presentation with Bitcoin and ethereum.
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00:04:19Inside day for Bitcoin, inside day for ethereum.
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00:04:22So nothing going on there on Thursday morning.
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00:04:26Okay, folks, that is all for today's presentation.
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00:04:28Expecting to see some buying at the open on Thursday morning.
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00:04:32Whether it's enough to give us new buy
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00:04:34signals or not, that is yet to be determined.
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00:04:37Have a great day.
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00:04:37Next time you'll hear my voice is on Friday morning.