This Wednesday morning, Stephen Whiteside from TheUpTrend.com reports a relatively calm pre-market, with mixed performance in commodities and stock index futures trading just below fair value. Technology stocks, led by Nvidia and the S&P technology ETF, continue driving the market upward, while small and microcap stocks show uncertainty, reflected in inside day patterns. Crude oil has pulled back after hitting a new high, while healthcare and biotech sectors remain weak, maintaining sell signals.
Stephen highlights Shopify’s strength in the Canadian market and focuses on GE Aerospace, a stock showing solid long-term performance. He advises investors to use weekly and monthly charts to filter out short-term market noise, emphasizing that GE Aerospace is a stock suited for long-term investors, given its steady performance over the last 18 months, rather than for short-term traders.
Stephen Whiteside
TheUpTrend.com
Wednesday, October 9, 2024
