In today’s Tuesday morning update, Stephen Whiteside from TheUpTrend.com discusses the premarket downtrend, with stock index futures trading lower across the board. He highlights Boeing’s strong performance, reaching a key price target, while American Express and Merck remain under pressure. Stephen also explains how early warning signals indicate potential sell-offs but notes that certain stocks like Nvidia and Kenvue continue to show upward momentum.
Moving into the broader markets, Stephen covers the Russell, TSX, and various ETFs, touching on silver and mining stocks that saw profit-taking. He emphasizes the importance of top-down analysis, reminding viewers that stock price movements reflect market opinions. By utilizing Flypaper channels and considering price targets, traders can make more informed decisions about when to take profits or cut losses.
Stephen Whiteside
TheUpTrend.com
Tuesday, October 22, 2024
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