-
Welcome to Wednesday morning, Steven Whiteside here from the uptrendcom
Welcome to Wednesday morning, Steven Whiteside here from the uptrendcom
-
We're trying to see if we can break out above
We're trying to see if we can break out above last week's highs or last week's lows for the major indices so far that hasn't happened
-
I should be able to get you out of here
I should be able to get you out of here in about 4 minutes, will just quickly run through all the charts and you can see I what didn't happen yesterday
-
That's a start of looking at the Vicks for the
That's a start of looking at the Vicks for the S&P 500 and no train change their, we made a lower clothes yesterday and that is bullish
-
It's also bullish for the vix for the NASDAQ to
It's also bullish for the vix for the NASDAQ to continue to move lower and the Vicks for the Russell 2000
-
So those are some bullish signs on the Bears sign
So those are some bullish signs on the Bears sign where you have not been able to break out above last, week's high for the Dow for the S&P 500, or for the NASDAQ
-
When we walk to the major sectors or is no
When we walk to the major sectors or is no Trend changes yesterday, even for some of the sectors, we were concerned about how you can see Consumer Staples traded through the lower channel on yesterday
-
But then ended the day higher, and as we walk
But then ended the day higher, and as we walk through the sector's here, we get to energy
-
We saw energy, Hardware energy, Drillers all make new highs
We saw energy, Hardware energy, Drillers all make new highs yesterday and then getting back to reality financials
-
And Dosey, insurance companies trading up at last week's Highs
And Dosey, insurance companies trading up at last week's Highs are, then we're looking at to healthcare Healthcare
-
We're concerned about that yesterday, but it closed higher on
We're concerned about that yesterday, but it closed higher on the day as did biotech
-
That looking at Pharmaceuticals, Pharmaceuticals made a new high yesterday
That looking at Pharmaceuticals, Pharmaceuticals made a new high yesterday as did Industrials for this move
-
We saw a new high yesterday for materials, and for
We saw a new high yesterday for materials, and for metals and Mining, and then back to reality technology stocks, not a nothing new there
-
Continue to move higher on Tuesday while gasoline prices saw
Continue to move higher on Tuesday while gasoline prices saw a small, pull back and natural, gas prices, close down
-
Looking at the metals are gold traded back in the
Looking at the metals are gold traded back in the channel yesterday after generating a cell signal on Monday and no change in trend for Palladium or platinum
-
And then we saw the price of silver move up
And then we saw the price of silver move up and close just above the upper channel line
-
Let's finish off this morning's presentation looking at some of
Let's finish off this morning's presentation looking at some of the volume leaders from Tuesday's trading action, starting off with DD Global
-
Unfortunately, that turned out to be a bearish reversal day
Unfortunately, that turned out to be a bearish reversal day and then we saw fall through the downside on Tuesday to close
-
Apple had to an interesting day on Tuesday, bounced off
Apple had to an interesting day on Tuesday, bounced off the lower channel line close, just above the upper Channel 9, a close, blow 14365 would give us a cell signal on Wednesday
-
Then looking at Southwestern Energy back up at the last
Then looking at Southwestern Energy back up at the last week's High's I've been looking at AMC cell signal on Monday
-
Ford bouncing off the lower channel line looking for a
Ford bouncing off the lower channel line looking for a close below 13 13 on Wednesday
-
Okay, folks, that's all for this morning's presentation, stock index,
Okay, folks, that's all for this morning's presentation, stock index, Futures are below
-
00:00:03Good morning, everyone.
-
00:00:05Welcome to Wednesday morning, Stephen Whiteside here from theuptrend.com.
-
00:00:09Well, Tuesday, turned out to be nothing day.
-
00:00:11We seem to be very choppy here.
-
00:00:14We're trying to see if we can break out above last week's highs or break down below last week's lows for the major indices, so far that hasn't happened.
-
00:00:22You seen some interest in mid cap and micro-cap stocks.
-
00:00:26But otherwise, it's up in a fairly quiet so far this week.
-
00:00:29I should be able to get you out of here in about 4 minutes. We will just quickly run through all the charts and you can see I what didn't happen yesterday.
-
00:00:38That's a start of looking at the VIX for the S&P 500. No Trend change here. We made a lower close yesterday and that is bullish.
-
00:00:47It's also bullish for the VIX for the NASDAQ to continue to move lower and the VIX for the Russell 2000.
-
00:00:53So those are some bullish signs. On the Bearish side where we have not been able to break out above last week's high for the Dow, for the S&P 500, or for the NASDAQ 100.
-
00:01:03Now, on the bullish side, we're seeing some money
-
00:01:06go into mid-caps and micro-caps. So that's bullish.
-
00:01:09When we walk through the major sectors, we see no Trend changes yesterday, even for some of the sectors we were concerned about. You can see Consumer Staples traded through the lower channel yesterday,
-
00:01:20but then ended the day higher. And as we walk through the sector's here, we get to energy.
-
00:01:26Energy made another new high yesterday.
-
00:01:28We saw Energy Hardware, Energy Drillers all make new highs yesterday. Then getting back to reality, Financials,
-
00:01:36nothing going on there.
-
00:01:37Nothing going on with banks.
-
00:01:38And insurance companies trading up at last week's Highs. Ahen we're looking at to Healthcare.
-
00:01:45We were concerned about Healthcare yesterday, but it closed higher on the day as did Biotech.
-
00:01:49So nothing going on there.
-
00:01:51That looking at Pharmaceuticals, Pharmaceuticals made a new high yesterday as did Industrials for this move.
-
00:01:58We saw a new high yesterday for a Materials, and for Medals and Mining. And then back to reality, technology stocks, nothing new there.
-
00:02:07Nothing new for semiconductors.
-
00:02:08Nothing new for Communication Services, or Transports or Utilities.
-
00:02:14Next up.
-
00:02:15Let's take a look at commodity prices. Crude oil prices
-
00:02:18continue to move higher on Tuesday. While gasoline prices saw a small pull back, and Natural Gas prices closed down
-
00:02:26just the penny.
-
00:02:27Looking at the metals. Gold traded back in the channel yesterday after generating a Sell signal on Monday. No change in trend for Palladium or Platinum.
-
00:02:38And then we saw the price of silver move up and close just above the upper channel line.
-
00:02:43Let's finish off this morning's presentation looking at some of the volume leaders from Tuesday's trading action, starting off with DiDi Global.
-
00:02:51Nice, big pop on Monday.
-
00:02:52Unfortunately, that turned out to be a bearish reversal day and then we saw follow through the downside on Tuesday. T close
-
00:03:00Below 1.81 would give us a Sell signal on Wednesday.
-
00:03:03Amazon, bounced off the channel line yesterday.
-
00:03:06No change there. No change for Advanced Micro Devices.
-
00:03:09Still closing above the Upper Channel Lune.
-
00:03:11Apple had to an interesting day on Tuesday, bounced off the lower channel line to close, just above the Upper Channel line. A close below 143.65 would give us a Sell signal on Wednesday.
-
00:03:22A new closing high for NIO for this move.
-
00:03:26A nice big pop for Transocean.
-
00:03:28Hit our next Price Target.
-
00:03:30Then looking at Southwestern Energy back up at the last week's High's. AMC had Sell signal on Monday.
-
00:03:38Trading back in the channel on Tuesday. A close
-
00:03:40Above 13.46 would give us a new Buy Signal on Wednesday.
-
00:03:44Then looking at
-
00:03:45Ford bouncing off the lower channel line. Looking for a close below 13.13 on Wednesday.
-
00:03:51Then, we've got Nvidia closing just above the upper channel line.
-
00:03:56So no change in trend for NVIDIA.
-
00:03:58Okay, folks, that's all for this morning's presentation, stock index, Futures are below
-
00:04:03Fair value.
-
00:04:04Futures currently down about a hundred points Commodities are mixed with crude oil and natural gas higher.