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In Wednesday’s premarket update, Stephen Whiteside from TheUpTrend.com discusses how stock index futures are trading around fair value, with no major economic data expected today. Commodities are mixed, with crude oil down and gold slightly higher. Apple nearly hit its target price of $237.50, and semiconductor stocks like ASML, KLA, and Lam Research faced sharp losses, signaling a shift toward bearish ETFs.

Whiteside also notes that energy stocks were hit hard due to the continuing drop in crude oil, prompting buy signals for bear ETFs. Despite volatility in U.S. markets, the TSX saw an inside day of indecision. Financial stocks such as TD Bank and Canadian Natural Resources saw declines, while others like Royal Bank and Enbridge hit new highs. Several U.S. stocks, including Nvidia and AMD, have either hit price targets or reversed trends.

Stephen Whiteside
TheUpTrend.com
Wednesday, October 16, 2024

This morning’s stock market update focuses on the impact of falling crude oil prices on the Canadian market and the broader market movements in the U.S. The VIX is out of sync with the stock market, but this is attributed to seasonal tendencies and hedging by options traders. The Dow hit a new high, driven by gains in Apple and McDonald’s, though Boeing and Caterpillar are showing weakness.

On the S&P 500, Vistra Energy and Qualcomm were top performers, while Dollar General and Dollar Tree lagged. The Nasdaq saw gains, with ARM Holdings and Marvell leading, but PDD Holdings and Crowdstrike experienced pullbacks. Stephen Whiteside wraps up the update by highlighting movements in commodities like crude oil, gasoline, natural gas, and precious metals, noting that several are approaching key price signals.

Stephen Whiteside
TheUpTrend.com
Tuesday, October 15, 2024

In this financial market update, Stephen Whiteside from theuptrend.com discusses the state of various indices and commodities as of Friday morning. He notes that stock index futures are below fair value and commodities are mixed, with gold up and crude oil slightly down. The market’s direction could change at 8:30 a.m. when the PPI numbers are released. Over the week, the S&P 500 is up by half a percent, the Nasdaq by over 1%, and the TSX by over half a percent. He mentions specific stocks, such as Apple, Boeing, and Chipotle, discussing their current trends and buy signals. Whiteside also highlights Canadian stocks like Hydro One and Canadian Natural Resources, providing insights into their performance and potential trading strategies.

Whiteside further covers the U.S. and Canadian most active stocks, noting significant movements in companies like Nvidia, Tesla, and Pfizer. He discusses the performance of Canadian banks like TD Bank and Bank of Nova Scotia, as well as energy companies like Suncor and Enbridge. Throughout his analysis, Whiteside emphasizes the importance of monitoring stock trends, noting potential buy or sell signals based on market movements. He concludes by reminding listeners of the PPI numbers’ potential impact and wishing those in Canada a happy long weekend, as markets will be closed on Monday.

Stephen Whiteside
TheUpTrend.com
Friday, October 11, 2024

In today’s premarket update, Stephen Whiteside of TheUpTrend.com reviews key market developments ahead of major economic data releases. He explores the potential effects of CPI numbers and jobless claims on market sentiment, while offering an in-depth look at the Canadian banking sector, Tesla’s recent robo-taxi news, and Hydro One’s seasonal weakness. Stephen also analyzes prominent stocks like TD Bank, Tesla, Shopify, and Apple.

Stephen addresses ongoing volatility, noting the elevated VIX, and examines how these trends are influencing U.S. and Canadian equities. He provides valuable insights into buy signals, seasonal patterns, and long-term market forecasts, stressing the crucial role of stock market timing during this pivotal phase.

Stephen Whiteside
TheUpTrend.com
Thursday, October 10, 2024

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

In today’s premarket update, Stephen Whiteside discusses the rise in stock index futures, driven by strong gains from Nvidia and Super Micro, which are supporting the Nasdaq. Meanwhile, Chinese markets are experiencing profit-taking, with the FXI ETF down 10%. Commodities show a mixed performance, with gold rising and crude oil slightly down. Major U.S. indices, including the S&P 500 and Nasdaq 100, reached their lower channel lines without breaking through, while Canadian energy stocks continue to outperform their U.S. counterparts.

Stephen also reviews the insurance sector, noting a significant pullback as Everest dropped 8.5%. His technical analysis of FedEx reveals a turbulent 2024, with several gaps in the stock’s chart, indicating a disconnect between the company and market expectations. Despite long-term buy signals, FedEx’s short-term challenges make it a riskier trade.

Stephen Whiteside
TheUpTrend.com
Tuesday, October 8, 2024

In today’s premarket update, Stephen Whiteside from TheUpTrend.com discusses the current state of the stock market, highlighting divergence between U.S. and Canadian markets. He reviews major indexes such as the Nasdaq, Dow Jones, and S&P 500, noting significant buy signals for ETFs while warning of increased volatility. Key stocks like Etsy, Apple, and Dollarama are reviewed, with particular focus on their recent performance and technical outlook.

Whiteside also emphasizes the importance of the VIX index in predicting market movements, particularly for the volatile months of October and November. With sector-specific insights into financials, energy, and technology, the update provides a well-rounded overview of market conditions as traders prepare for potential shakeups in the coming weeks.

Stephen Whiteside
TheUpTrend.com
Monday, October 7, 2024

n this morning’s update, Stephen Whiteside from TheUpTrend.com reviews the market activity ahead of the employment numbers release, which could influence market direction. Stock index futures, led by the Nasdaq, are trading higher, along with commodities such as crude oil. He highlights specific stocks like Chipotle, Nvidia, and Tesla, analyzing their recent performance. He also notes that materials in the US are back on a sell signal, while sectors like energy are showing positive trends.

Stephen emphasizes the importance of using different charts (monthly, weekly, daily) depending on your investment style, whether you are a long-term investor or a short-term trader. He also analyzes Chipotle in detail, explaining the technical signals traders should watch for. The video concludes with a reminder of his “31 Stocks in 31 Days” series, which will continue over the weekend.

Stephen Whiteside
TheUpTrend.com
Friday, October 4, 2024

In today’s update, Stephen Whiteside discusses the market’s reaction to premarket movements in the U.S. stock indexes, crude oil, and gold. He notes that U.S. jobless claims, set to be released later, could significantly influence market sentiment. Stocks tied to China have been performing well, and the price of copper has risen due to increased demand, which has bolstered mining stocks.

He also highlights the contrasting performance between U.S. and Canadian energy stocks, with U.S. energy stocks seeing more strength. The VIX remains on a buy signal, keeping pressure on the overall market. Meanwhile, Canadian Natural Resources is holding at key support levels, and its pullback has been modest. Stephen identifies $50 as a critical resistance level for the stock.

Stephen Whiteside
TheUpTrend.com
Thursday, October 3, 2024