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In today’s premarket, Stephen Whiteside discusses market movements, highlighting a decline in stock index futures and gold, while crude oil continues to rise. The energy sector in Canada outperformed, benefiting from the surge in oil prices. Aerospace and defense stocks also saw gains, while U.S. financials struggled.

Stephen focuses on Boeing, noting that the stock is still in a downtrend, with lower price projections. Despite minor momentum, Boeing remains a broken stock, and expectations for significant recovery are muted. He emphasizes the importance of watching price targets and signals before making any moves.

Stephen Whiteside
TheUpTrend.com
Wednesday, October 2, 2024

Today’s stock market update highlights key movements in the major indices, including the Dow, S&P 500, and NASDAQ, all of which had a strong start to the month. Apple continues to be overbought, with a new bearish reversal signal emerging after a significant rally. The VIX remains on a sell signal, indicating that market volatility is still low, while bonds continue to underperform.

The update also covers commodities like gold and crude oil, which both experienced bearish moves, with crude oil testing support levels. The focus for traders is on whether the current trends will hold, as we approach a seasonally volatile period in the market. The report closes with a reminder that stock futures are slightly down ahead of the trading day.

Stephen Whiteside
TheUpTrend.com
Tuesday, October 1, 2024

This morning, Stephen Whiteside from TheUpTrend.com provides a market overview where stock index futures and commodities are trading below fair value, likely reacting to European news. Notable movements include Alibaba’s recent gains, Tesla’s potential to break July highs, and weakness in North American auto stocks like Ford and General Motors. He highlights that the VIX remains on a sell signal, which is positive for stocks.

Looking at major ETFs, Canadian and U.S. markets remain on buy signals, with semiconductors and financials making key moves. Natural gas surged to $2.93, hitting price targets, while crude oil continues to struggle despite a buy signal. Whiteside concludes with commodity insights, noting small pullbacks in copper and precious metals, while energy remains volatile.

Stephen Whiteside
TheUpTrend.com
Monday, September 30, 2024

This morning’s premarket update shows the Nasdaq leading lower while commodities are mixed. Weekly, the S&P 500 is up 0.75%, with the Nasdaq outperforming at 1.64%. Notable sector moves include semiconductors surging over 6%, while crude oil is sharply down, and gold is up nearly $50.

Thursday’s trading saw gains for travel and mining stocks while energy stocks fell. Nvidia’s performance lagged behind the semiconductor sector, and Chinese stocks like Alibaba and JD.com surged. The VIX remains on a sell signal, supporting higher stock prices unless the VIX closes above 17.53 on Friday.

Stephen Whiteside
TheUpTrend.com
Friday, September 27, 2024

In Thursday’s premarket, stock index futures are trading above fair value, with the Dow up around 200 points and Nasdaq futures nearly 300 points higher. Key market movers include Chinese government stimulus and earnings reports from Micron and Intel. Micron, currently trading near resistance at the top of the Flypaper channel, could push higher, with targets set at 112.50 and beyond. Intel, approaching the $25 level, faces significant congestion, and a breakout would require major news.

Additionally, financial stocks and bonds show signs of weakness, while tech giants like Nvidia and Shopify continue to surge. Nvidia hit new highs, nearing its August peak, while Tesla, Taiwan Semiconductor, and other semiconductor stocks are also seeing gains. Meanwhile, crude oil continues its downtrend, providing some relief for consumers but posing challenges for the energy sector.

Stephen Whiteside
TheUpTrend.com
Thursday, September 26, 2024

This morning’s premarket shows stock index futures and commodities trading near fair value. With China stimulating its economy, global markets saw gains on Tuesday, and the VIX remains on a sell signal, supporting higher stock prices. Major U.S. indices like the Dow, S&P 500, and Nasdaq are nearing resistance points, while Canadian markets continue to thrive with the help of commodity sectors and the banking industry.

In Canadian markets, gold, silver, and copper are seeing strong upward moves, with mining and financial sectors performing well. Many banks, such as Bank of Montreal, CIBC, and TD Bank, have hit resistance levels, with Royal Bank generating a recent sell signal. Despite some market strength, further catalysts may be needed to push stocks above their current resistance.

Stephen Whiteside
TheUpTrend.com
Wednesday, September 25, 2024

Today’s premarket update covers various economic indicators and stock movements. Stephen Whiteside highlights that while stock index futures are quiet and trading near fair value, commodities such as crude oil and gold are seeing a rise. The consumer confidence report coming out at 10:00 a.m. is a significant data point for today’s market action. Stephen also points out resistance levels across major indices like the S&P 500, Nasdaq 100, and Russell 2000, while Canadian markets have broken through resistance levels, with banks and energy stocks playing a key role in the upward trend.

In terms of specific stocks, attention is drawn to semiconductors, Canadian energy stocks, and tech stocks like Meta, Shopify, and Tesla, which are pushing new highs. Stephen also delves into commodities, where crude oil is holding support, and gold and silver are showing minor pullbacks. He finishes by highlighting the performance of mining and energy sectors and top tech companies, such as Tesla, which is currently trading above key price targets.

Stephen Whiteside
TheUpTrend.com
Tuesday, September 24, 2024

Stephen Whiteside from TheUpTrend.com provides an overview of the US market’s premarket conditions on Monday, September 23, 2024. He notes that stock index futures and commodities are trading above fair value, suggesting a positive start to the week. The VIX remains on a sell signal, which supports higher stock prices on a short-term basis. Key sectors like home builders, technology, and the semiconductor sector reached price targets but have since pulled back slightly.

Stephen highlights movements in ETFs and sectors, including SPY, Nasdaq 100, and retail, where traders have locked in profits. He also mentions Canadian markets, with notable performance in the TSX 60 and venture exchange. Moving to commodities, crude oil and natural gas are still on buy signals, and gold has reached new highs. He concludes by observing resistance in the market and noting that it will be interesting to see if the market retests or breaks through these levels.

Stephen Whiteside
TheUpTrend.com
Monday, September 23, 2024

In today’s Friday morning update, Stephen Whiteside of TheUpTrend.com provides a market overview with stock index futures trading around fair value in the pre-market. Nike’s stock is trading higher, surpassing its August highs, while FedEx has taken a significant drop, heading towards the bottom of its June gap. The S&P 500, Nasdaq, and TSX all reached new highs, prompting the opportunity to lock in profits. Notable performers include Shopify and Darden Restaurants, both experiencing strong gains.

Whiteside also discusses the VIX decline, supporting higher stock prices. In commodities, crude oil and gasoline continued their rise, while gold is hitting new highs in pre-market action. The semiconductor sector and other major indices encountered resistance after reaching significant price targets. Whiteside emphasizes the importance of taking partial profits as markets hit resistance levels, leaving room for future gains.

Stephen Whiteside
TheUpTrend.com
Friday, September 20, 2024

In Thursday’s premarket, stock futures and commodities were trading higher, with the Dow up over 480 points, signaling optimism despite Wednesday’s volatility. Stephen Whiteside discusses how the market hit new all-time highs before reversing, causing a bearish reversal signal. However, Thursday’s premarket shows strength, and if stocks close above Wednesday’s highs, it will nullify the bearish signal.

Whiteside highlights that several sectors, such as the Russell 2000 and Canadian market, showed mixed results, while commodities like crude oil and metals remained steady despite minor pullbacks. He wraps up with updates on bond market performance and recent developments in the Canadian telecom sector, while emphasizing a “forget about yesterday” mindset moving forward.

Stephen Whiteside
TheUpTrend.com
Thursday, September 19, 2024