Stock Market Timing Television - 20221129

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00:00:00

Hello everyone, and welcome to Tuesday morning.
00:00:02

In the pre market this morning, things are fairly bullish.
00:00:05

We've got stock index futures slightly above fair value.
00:00:08

Commodities are all trading above fair
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value, being led higher by crude oil up over 2%.
00:00:15

Well, we had a lot of negative news come out of China yesterday.
00:00:18

It didn't really seem to hurt the stocks very much.
00:00:22

There's the SPDR China ETF closing up on the day.
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And then some of the casinos.
00:00:27

Got some good news yesterday from China.
00:00:29

And so we saw WINN resorts and Las Vegas sands both trade higher on Monday.
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Now looking at the rest of the market,
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starting with the VIX, the VIX gapped higher yesterday,
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closed at the lower channel line, so we're still looking for a close above 23.
00:00:44

73 on Tuesday. Looking at the US.
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Dollar index, while day yesterday we went down to retest the recent low and then
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reversed closed higher on the day, looking for close on Tuesday above 107.44.
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Now, the biggest news of the day was the big reversal in the price of crude
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oil, which dipped below 75 and then closed higher on the day.
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And as I mentioned earlier,
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we're trading higher again in the pre market on Tuesday morning.
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Looking at the major index ETFs,
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you can see we dipped into the channel for the Dow Diamonds, as did the SPDR ETF.
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And then the QQQ's for the Nasdaq traded
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down to the lower channel line yesterday, looking for a close on Tuesday below 281.
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30 to give us a sell signal there's
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the Ishares for the TSX 60 holding just above the upper channel line.
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Now, energy stocks moved down yesterday.
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The Ishares for the TSX 60 down 1.
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6%, while the SPDR ETF in the US.
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Was down 2.74 percent,
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Back on a daily Sell signal looking at gold.
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Gold was down $14.30 yesterday, looking for a close on Tuesday below 1750.
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69.
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The gold miners ETF, the GDX,
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traded down to the lower channel line, looking for a close below 27.
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20 on Tuesday to give us a sell signal.
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And then for the Ishares for the TSX Global Gold Index,
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we're looking for a close below 16.44. Looking at some stocks in the news.
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Well, Apple had a big down day yesterday.
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It is back on a sell signal.
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So it looks like we've put in a lower high once again.
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Now we'll have to wait and see if we can put in a lower low.
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Looking at Tesla,
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Tesla traded up to the upper channel line
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yesterday, we're looking for a close above 187.
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37 to give us a buy signal on Tuesday.
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Amazon, I'm not sure people were overly
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excited about how Amazon did during Black Friday and Cyber Monday.
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We traded higher yesterday, we're still looking for a close above 96.
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28.
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Now compare that stock to Walmart, which hit a new high on Monday.
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And our last chart this morning is Shopify.
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Shopify got some great Black Friday news and it gapped higher,
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closing above the upper channel line on both sides of the border.
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Okay, folks, that is all for this morning's presentation.
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Have a great day.
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Next time you'll hear my voice is on Wednesday morning.

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