Stock Market Timing Television - 20221129
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  • Transcript
  • 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
  • 00:00:11
    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.
  • 00:00:26
    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.
  • 00:00:35
    Now looking at the rest of the market,
  • 00:00:37
    starting with the VIX, the VIX gapped higher yesterday,
  • 00:00:40
    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.
  • 00:00:47
    Dollar index, while day yesterday we went down to retest the recent low and then
  • 00:00:52
    reversed closed higher on the day, looking for close on Tuesday above 107.44.
  • 00:00:58
    Now, the biggest news of the day was the big reversal in the price of crude
  • 00:01:02
    oil, which dipped below 75 and then closed higher on the day.
  • 00:01:06
    And as I mentioned earlier,
  • 00:01:08
    we're trading higher again in the pre market on Tuesday morning.
  • 00:01:13
    Looking at the major index ETFs,
  • 00:01:16
    you can see we dipped into the channel for the Dow Diamonds, as did the SPDR ETF.
  • 00:01:21
    And then the QQQ's for the Nasdaq traded
  • 00:01:23
    down to the lower channel line yesterday, looking for a close on Tuesday below 281.
  • 00:01:28
    30 to give us a sell signal there's
  • 00:01:31
    the Ishares for the TSX 60 holding just above the upper channel line.
  • 00:01:35
    Now, energy stocks moved down yesterday.
  • 00:01:37
    The Ishares for the TSX 60 down 1.
  • 00:01:40
    6%, while the SPDR ETF in the US.
  • 00:01:44
    Was down 2.74 percent,
  • 00:01:46
    Back on a daily Sell signal looking at gold.
  • 00:01:50
    Gold was down $14.30 yesterday, looking for a close on Tuesday below 1750.
  • 00:01:56
    69.
  • 00:01:58
    The gold miners ETF, the GDX,
  • 00:02:01
    traded down to the lower channel line, looking for a close below 27.
  • 00:02:04
    20 on Tuesday to give us a sell signal.
  • 00:02:07
    And then for the Ishares for the TSX Global Gold Index,
  • 00:02:11
    we're looking for a close below 16.44. Looking at some stocks in the news.
  • 00:02:16
    Well, Apple had a big down day yesterday.
  • 00:02:18
    It is back on a sell signal.
  • 00:02:20
    So it looks like we've put in a lower high once again.
  • 00:02:23
    Now we'll have to wait and see if we can put in a lower low.
  • 00:02:27
    Looking at Tesla,
  • 00:02:29
    Tesla traded up to the upper channel line
  • 00:02:31
    yesterday, we're looking for a close above 187.
  • 00:02:34
    37 to give us a buy signal on Tuesday.
  • 00:02:37
    Amazon, I'm not sure people were overly
  • 00:02:40
    excited about how Amazon did during Black Friday and Cyber Monday.
  • 00:02:45
    We traded higher yesterday, we're still looking for a close above 96.
  • 00:02:49
    28.
  • 00:02:49
    Now compare that stock to Walmart, which hit a new high on Monday.
  • 00:02:55
    And our last chart this morning is Shopify.
  • 00:02:57
    Shopify got some great Black Friday news and it gapped higher,
  • 00:03:02
    closing above the upper channel line on both sides of the border.
  • 00:03:06
    Okay, folks, that is all for this morning's presentation.
  • 00:03:09
    Have a great day.
  • 00:03:10
    Next time you'll hear my voice is on Wednesday morning.

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