Stock Market Timing Television - 07142023

en-us French Canadian Arabic Chinese German Hindi Japanese Korean Spanish

How was the video ?

Description

Auto Scroll

00:00:00

Good morning, everyone. Welcome to Friday morning.
00:00:02

It's Stephen Whiteside here from theuptrend.com in the pre market.
00:00:06

This morning we've got bank earnings out,
00:00:08

and JPMorgan trading higher is helping the Dow, which is currently up 140 points.
00:00:14

Otherwise the rest of the market is fairly flat.
00:00:17

So we've got earnings out from JPMorgan, from Wells Fargo, and from Citigroup.
00:00:21

They're all positive.
00:00:23

Wells Fargo is the up, the most in percentage terms in the pre market.
00:00:27

But all three stocks are trading higher now.
00:00:30

The US dollar index continued to move lower yesterday.
00:00:34

We had a nice big move up in silver stocks.
00:00:37

Once again, they led the North American markets higher.
00:00:40

And there's the price of silver jetting
00:00:43

out above the June high, heading towards the highs from back in May.
00:00:48

Looking at the VIX, second day of a sell signal here was up slightly on the day.
00:00:52

A close above $15.02 on Friday would certainly be a wake up call.
00:00:58

There's the Ishares for the TSX 60 moving
00:01:01

up to the previous high on the back of rising commodity prices.
00:01:05

Then we've got an inside day for the Dow.
00:01:08

So the Dow may have put in a double top.
00:01:10

We'll just have to wait and see.
00:01:12

It is trading higher in the pre market this morning.
00:01:14

S&P 500 made a new high yesterday.
00:01:17

Looking for a move up to 453 13.
00:01:20

That's our next target.
00:01:21

And for the triple Q's, we're looking for a move up to 390 63.
00:01:27

If we can break away from 375, looks like we're still stuck at that level.
00:01:32

Then looking at semiconductors, next target is 237 50.
00:01:37

Now looking at the TSX most actives.
00:01:39

Nice big move up for Hut 8 yesterday, it was most actively traded stock.
00:01:44

Canadian Natural Resources making a new high.
00:01:47

Then we've got Enbridge back on a buy signal.
00:01:50

New high for TD Bank, breaking out above the May highs.
00:01:55

Then TC Energy still waiting for a buy
00:01:57

signal there athabasca trading up at the highs from back in April.
00:02:02

Then looking at the Royal Bank, a new high for this move.
00:02:06

We saw Cenovus dip into the channel and then ended the day closing higher.
00:02:12

Then looking at Suncor trading right down to the lower channel line yesterday, but
00:02:16

coming back, closing at the upper channel line.
00:02:19

So a close below 38.43 would give us a sell signal on Thursday.
00:02:24

Then looking at Bit farms.
00:02:25

New high for Bitfarms from Thursday's trading action.
00:02:29

Looking at the US most active.
00:02:32

And right at the top of the list is Tesla.
00:02:34

Once again having another very quiet day.
00:02:37

Then looking at Rivian, we reversed after making a new high.
00:02:42

Then looking at Marathon, a new high for Marathon, new high for Coinbase.
00:02:47

Yesterday, a nice big update.
00:02:49

Then Amazon second day of a buy signal, making a new high reversal day for Neo.
00:02:55

You can see it shows up on the nightly reports as a bearish reversal day.
00:02:58

Still way above the upper channel line.
00:03:00

So not overly concerned then looking at
00:03:02

palantir trading up at the previous highs before pulling back.
00:03:06

Looks like all the bitcoin related stocks did very well on Thursday.
00:03:10

There's Riot up just under 15% on the day.
00:03:14

Lucid does pulled back over the past couple of days looking for a close on
00:03:18

Friday below 6.94 to give us a sell signal.
00:03:21

And then there's Ford.
00:03:23

Ford sitting at the upper channel line.
00:03:25

A close below 14.85 would give us a sell signal on Friday.
00:03:30

Okay folks, that is all for this morning's presentation so far.
00:03:33

It looks like we're going to have a fairly quiet open at 930 Friday morning.
00:03:38

The next time you'll hear my voice is on Sunday.
00:03:40

Have a great day, have a great weekend and we'll talk to you again soon.

Transcription