US Market Outlook 01312024

Good morning, everyone, and welcome to Wednesday morning. It’s Stephen Whiteside here from TheUpTrend.com. In the pre-market this morning, things are fairly mixed. We do have the Dow trading higher while the S&P 500 and Nasdaq are trading lower. Now, the Dow is being led higher this morning by Walmart, which announced a stock split, and it is trading up, filling the open gap from back in November. Now, it is month-end. Month-end usually has a bullish bias to it, but this week is a little different. We’ve got a lot of earnings There’s a lot of economic numbers coming out. We also have the Fed meeting going on, which concludes this afternoon. We always look for volatility to expand after the Fed meeting comes to an end. Looking at the VIX, the VIX is still on a sell signal here, but is trying to break out, and we’re looking for a close above 14.02 on Wednesday to tell us that something new is happening in the VIX. But we know that the VIX has traded up to 15 over the past couple of weeks, and the market really hasn’t been that concern. So a breakout above 15 would certainly be a sign that the market is starting to change its bias from being bullish to being bearish.

Looking at the Dow, it made a new high yesterday on the back of J. P. Morgan and Goldman Sachs. What didn’t work on the Dow on Tuesday? Well, Boeing was down. It’s still holding 200. It is still holding 200 in the pre-market. But if it starts to break down, then that would probably head us down towards the October lows. Now, we had a small pullback in the S&P 500 on Tuesday. The big winner was MSCI, gapping up over 9% on the day. At the same time, we had UPS gaping lower, down over 8% on the day. Fairly quiet trading for the Nasdaq 100, going into all the earnings. We had an inside day for the Nasdaq 100. The big winner was Vertex Pharmaceuticals. At the same time, we also hear that Novo Nordisk is up in European trading this morning, and it is now valued at more than $500 billion. It’s the second European company to do that. Now, what didn’t work on the Nasdaq 100 yesterday was DoorDash and setting up for a potential sell signal on Wednesday with a close below $104.59. Now, we had an inside day for the Russell 2000, an inside day for US microcaps.

Technology stocks fairly quiet yesterday. We may see a sell signal today. There’s lots of the big cap tech stocks trading lower this morning, and we do have Apple back on a sell signal. Now, semiconductors already on a sell signal, so no change in trend there. Now, when we look at sectors, what worked on Tuesday was the energy sector with crude oil trading higher. The USO was up, and then it was the Oil and Gas Explorers up 1.78%. The energy sector itself was up just a little over 1%, and then it was Marathon Petroleum was the big winner, up over 6% on the day. We also had financials trade higher, a new high for the Financials ETF, and Citigroup was up over 5% on the day. So Citigroup gapping higher on Tuesday. Then looking at the Magnificent 8, and a lot of these are trading down sharply in the pre-market this morning, so we may see some additional sell signals. We’ve got Alphabets still on a buy signal. It’s down in the pre-market this morning. We also have Apple back on a sell buy signal as of Tuesday’s close. We were concerned about Apple not being able to get up to $200.

Then we’ve got Amazon still on a buy signal here. We’ve got Meta making a new high yesterday. New high for Microsoft on Tuesday, new high for NVIDIA. Then looking at Tesla, no change in trend for Tesla. Now, Tesla was able to trade up into the gap. It did not close above the high of that day. We are We’re looking at Tesla actually trading lower in the pre-market this morning, so no change in trend for Tesla. Let’s finish off looking at the miners. We’ve got copper miners still on a buy signal here inside day on Tuesday. The GLD is back on a buy signal, still waiting for the gold miners. We’re looking for a close for the GDX above $28.54 on Wednesday to give us a buy signal. For the Junior Gold Miners, we’re looking for a close above $34.77. We’ve got the silver on a buy signal right now. Silver Miners also on a buy signal trading back into the channel yesterday. So if we see some selling on Wednesday, we’re looking for a close below $25.34. Okay, folks, that is all for this morning’s presentation. There’s a lot of pre-market action this morning, most of it to the downside.

Of course, we don’t act on pre-market activity. We wait until we see the actual closing price, and we are looking for volatility to expand this afternoon after the Fed meeting comes to an end and they start speaking to the public. Have a great day on Wednesday, folks. Next time you’ll hear my voice is on Thursday morning, and at that time, we’ll take a closer look at the Canadian stock market.

Stephen Whiteside
TheUpTrend.com
Wednesday, January 31, 2024

Canadian Stock Market Outlook 01302024

Good morning, everyone, and welcome to Tuesday morning. It’s Stephen Whiteside here from TheUpTrend.om. In the pre-market this morning, things are fairly quiet. Stock index futures are trading a little below fair value. Commodities are mixed with crude oil flat, while gold is slightly higher on Tuesday morning. Now, this is an extremely busy week for the market. We’ve got a Fed meeting starting today. We’ve got lots of earnings coming out, and we also have lots of economic numbers coming out. So it could certainly end up being a volatile week. Now, historically, we are coming into month end. Usually has a bullish bias to it, but that just might not be the case this week with all that’s going on. Now, moving on to the Canadian market. The TSX is trading up at the top of the panic zones right now, and this is a very high-risk time to be putting new money into the market. But we are on a short-term buy signal. We saw some weakness recently. Our chart, which is designed for swing traders, our right-side chart, currently on a buy signal. That would change on Tuesday with a close below 20,902. Now, in our database, we also have a midterm chart, which is more designed for position traders, and it certainly gives the market a little more room to breathe down towards 20,600.

We’ll be watching these charts closely over the next few weeks to see if we do get any new sell signals. But right now, the market is still pointing higher. We’ve got the TSX on a buy signal, the TSX-60, mid-caps, small caps, but unfortunately, micro-caps haven’t caught up yet. That could certainly happen on Tuesday. What worked, what didn’t work on Monday? Well, Infotex, just like in the US, led the market higher while energy stocks were down on the day. That’s crazy because if you were watching the news yesterday, there’s a lot happening in the Middle East and not all good. We did see a new high for this move for crude oil before reversing. Now, it reversed but didn’t close below the previous day’s low, so not as bad as it could have been. The first sign, something new, of course, is if we close below the previous day’s low on any chart. Looking for a move up to 81.25 this week, which would take us back up to what was support back in October. And then from there we would expect to move up to 87.50. That is not happening on Tuesday morning. Now, looking at the HOU, the Leveraged ETF, it had an inside day yesterday.

And then looking at energy stocks, the XEG also had an inside day on Monday, so no change in trend for those. Suncor closed down slightly yesterday. Canadian Natural Resources has been in the channel for the last three days, so certainly the possibility of a sell signal on Tuesday with a close below 84.93. Now, we’re not expecting a trend change for Whitecap or Bayex or Cenovus . They’re all holding up fairly well. And then moving on to technology stocks. This is where all the money made on Monday. A new high for the index, new high for the XIT ETF. Then we’ve got Celestica making a new closing high yesterday. We had Shopify up over 2%. Then we’ve got Bitfarm’s back on a buy signal there. A new high for Constellation software, new high for CGI. Then we’ve got Dye & Durham back on a buy signal as of Monday’s close. New high for Enghouse here. And We’ve got Lightspeed back on a buy signal as of Monday’s close. Then we’re looking at Open Text making a new closing high yesterday. What didn’t work, unfortunately, the most followed stock on the stock house billboards, Pyrogenesis, is on its second day of a sell signal, so no joy there.

Okay, folks, that’s all I wanted to cover this morning. The winners in the tech sector, unfortunately, the losers yesterday, and not by much less than 1%. That was the energy sector, and hopefully, things can turn around for that sector, which is still on a buy signal at the present time. Have a great day, folks. Next time you’ll hear my voice is on Wednesday morning.

[00:00:00]: Market Update

[00:01:16]: Canadian Market Analysis

[00:02:29]: Energy Stocks Overview

[00:03:48]: Tech Sector Winners and Losers

Stephen Whiteside

TheUpTrend.com

Tuesday, January 30, 2024

US Market Outlook 01292024

Hello everyone, and welcome to Monday morning. It’s Stephen Whiteside here from TheUpTrend.com. In the pre-market this morning, things are fairly quiet. Stock index futures are trading around fair value. Gold is higher while crude oil is slightly lower on Monday morning. Let’s start off this morning with a little housekeeping, and we’ve got a schedule change starting today. I’m going to start covering the US markets on Monday, Wednesday, and Friday, and do a deeper dive into the Canadian markets on Tuesday and Thursday. So today, we’re just going to look at the US market. Now, typically, coming into month-end, I would tell you to relax, and the market usually has a bullish bias to it, and there’s no history of the market having a major crash at the end of the month. But This month is different. We’ve got a jam-packed week coming up, lots and lots of earnings, and we’ve got a bunch of economic numbers coming out. We also have a Fed meeting, and so that’s the 30th and 31st. That, of course, could add a tremendous amount of volatility to the market, depending on what they say. This is going to be a very interesting week for the market.

Now, coming into the market, things are still looking very bullish. We’re hitting all-time new highs. The VIX has been in a tight range for a while now, and looking at a monthly chart of the VIX, we know that we’re not going to expect a major decline in the stock market unless the VIX starts poking over the $20 level. On a shorter term time frame, we’re going to remain long term bullish, so that’s using the weekly charts on the market as long as the VIX does not close above 14.88 this coming Friday. And if you’re a short term trader on Monday, we’re going to remain bullish on the market as long as the VIX does not close above 13.89. Now, the VIX recently had a pop, and the market really didn’t take too much notice of it. Really, we’re probably going to have to see the VIX poke out above 15 before the market really gets overly concerned. The VIX represents how options traders feel about risk in the market. Right now, we’re pretty neutral, and so not too worried. But if you look at the VIX chart, it’s rather interesting. It’s setting up quite a bullish pattern where we’re making a series of higher highs and higher lows.

That’s usually the sign that a bullish trend is about to start, that it certainly hasn’t started coming into Monday’s trading action. Now, the rest of the charts in this presentation are going to be weekly charts, and of course, technology, just by the weight of this sector, is leading the market higher. Might not be in percentage terms, but you can see the technology, SPDR ETF, making a new high. We had a new high in communication services, and a lot of that action last week had to do with Netflix. Now, semiconductors were down nearly 2% on the week, and that could be a big red flag for the market. We’ll just have to wait and see. We’re certainly still on a weekly buy signal here, back on a daily sell signal, though. If we look, we had a bearish reversal signal a month ago, we put in a lower high a month ago, and then last week, we put in another lower high. So it’ll be interesting if this particular ETF, the XSD, can hold the 203.13 level. Going forward, right now, we’re still stuck up at the 218.75 level, but certainly be a tell if the semiconductors started to break down and started to lead the market lower.

Looking at the Dow, new high for the Dow, new high for the S&P 500, new high for the Nasdaq 100. The Russell 2000 was up nearly 2% on the week. Microcaps were up 2.68% on the week. That’s all looking bullish. Financials made a new high. Now, it wasn’t on the back of banks that were up or regional banks that were up or the broker dealers, of course. And what we’ve been noticing over the past year or so is that it’s really the insurance companies leading the financial sector higher. Energy stocks were the big winner on the week. Not enough to give us a weekly buy signal, but lots of short term action on the daily charts. Let’s finish off taking a look at commodities. And we had crude oil up. It’s back on a weekly buy signal. The pros haven’t taken control yet, but let’s just say this is week one of an uptrend, and we’re looking to see if we can repeat something like this from last summer into the fall. That would take us up two lines, back up to the $87.50 level. That’s how I would measure it. Of course, we know that we traded above that, so there’s going to be a lot of people looking for a move up to $90.

But let’s just start with two lines up, 87.50. That’s a reasonable target for crude oil. Unfortunately, natural gas was down nearly three and a half %. The pros do not look like they’re interested in taking control right now. That is unfortunate. Now, looking at the miners, copper was up nicely on the week. Not enough to give us a buy signal. Copper miners were up as well. Not enough to give us a buy signal. The price of gold was down $12.50. No change in trend there, sitting right on the edge of a weekly sell signal for the price of gold. Since last fall, the price of gold has traded between 1875 and 2125. So about 95 % of the trading action has been between those two lines. Right in the middle is the big psychological area of support of $2,000. So it’ll be quite a tell if gold starts breaking down below $2,000. Now, gold Gold miners were up on the week. Certainly not enough to even get back into the channel. We’re looking to see if gold can start to turn around. It is up in the pre-market this morning, so we’ll just have to wait and see.

Then looking at silver, silver was actually up on the week, but it traded all the way down to $22 in bounce. $22 is acting as support at the moment. Mathematically, it’s $21.87 is our mathematical price target. If we start breaking down, of course, we have the previous lows here from $20.23 that could potentially act as support. But if you’re looking for a new playing field, if we do break down below $21.87, then down to $18.75, that would be our playing field, and that would take us back to the lows from 2022. We’re not there yet. We’re just projecting what could happen if we start breaking down and we start making lower lows. You can see that we recently put in a high. It It was actually higher than the previous two, but certainly not a retest of the previous high. For both gold and silver, we’re just sitting waiting to see which way the market wants to take them next. There’s no reason to get excited about either of those two areas of the market right now. All the focus is on the energy sector. Then looking at silver miners, we’re up on the week.

Again, nowhere near a new weekly buy signal. Okay, folks, that’s all for this morning’s presentation. It’s It’s going to be a rather exciting week. We’re coming in very overbought, and the market may want to take a break. In a lot of cases, it might be buy the rumors, sell the news. You may see some good earnings reports coming out that will cause the market to sell off. But again, we’ll just have to wait and see. Have a great day. Next time you’ll hear my voice is on Tuesday morning, and at that time, we’ll take a deeper dive into the Canadian stock market.

Stephen Whiteside
TheUpTrend.com
Monday, January 29, 2024

Morning Market Outlook

This video has been translated into Arabic, Chinese, French, German, Hindi, Japanese, Korean, and Spanish.

Good morning, everyone, and welcome to Friday morning. It’s Stephen Whiteside here from theuptrend.com. In the pre-market this morning, stock index futures and crude oil are below fair value, while gold is trading higher, about $5 in the pre-market on Friday morning. Now, we do have some economic numbers coming out at 8:30 this morning that could certainly change the direction of the market. Now, yesterday, Boeing was a big drag on the Dow, and it did dip through the $200 level but did not close below it. It is continuing to trade above $200 in the pre-market, and so it’ll be quite a tell if a Boeing starts breaking down below 200 heading towards those lows from last October. At the same time, Boeing was going down, IBM was going up. You don’t see this very often. IBM gapping sharply higher yesterday, up nearly 10% on the day. Again, that has not happened for a long time. Now, what the market is worried about this morning is Intel. Intel is coming into Friday’s trading action on a buy signal. It may end the day on a sell signal, currently trading down over 10% in the pre-market. Now, just looking at what’s happened this week for the S&P 500 SPY, we’re up 1.16%. For the Nasdaq 100, we’re up 1.23%. For the TSX-60, we’re up 0.84%. At the same time, we’ve got crude oil up over 5% on the week, and this could be turnaround time for crude Well, natural gas, on the other hand, down over 3% so far this week, while gold is down a little over half a % on the week.

That could change on Friday with gold trading higher in the pre-market. Let’s get back to some daily charts, starting with the VIX, which traded up into the channel on Thursday, looking for a close on Friday above 13.92. Of course, if that were to happen, that would be negative for stocks. The DOW is on a buy signal right now, but just treading water up here, so it could be the first major indices to roll over. The S&P 500 had a new closing high while having an inside day, a day of indecision. The Nasdaq 100 also had a new closing high, but actually, dipped below the previous day’s low during the trading session. So could be a sign of weakness there with the semiconductors trading down over 1% on Thursday, closing below the previous day’s low. That is a bearish-looking bar. Then looking at the TSX-60, we closed higher on Thursday. No change in trend there. We’ve got the financials back on a buy signal moving up on Thursday. Onyx was the big winner in the TSX financials. While bank stocks are still treading water, the Royal Bank was actually unchanged on the day yesterday, while we’ve got the TD Bank back on a buy signal for the second day.

Energy stocks were the big winners on Thursday, being led higher by the US energy sector, up over 2% back on a buy signal, being led higher by Valero. On the TSX, we are back on a buy signal, and the big winner was Meg Energy, up over 4%. Then moving on to the US most actives, and these are the price volume weighted most actives with the Tesla Gaping lower yesterday. We talked about that, certainly closing well below $200 at $182.63. Then we had an inside day for NVIDIA and closing, new closing high for NVIDIA, new closing high for Advanced Micro Devices. Apple’s looking pretty sluggish up here. It’s still holding the $193.75 level, but it’s not looking like it wants to move higher at the moment, which is unfortunate with $200 our next price target. Then looking at Microsoft, new closing high there. Big down day for United Health already on a sell signal, so no change in trend. No change in trend for Humana, gapping lower as well. So congratulations if you’re short either of those stocks. Then we’ve We have Costco sitting right on the edge of a new daily sell signal. That would happen on Friday with a close below $677.74. And then CVS gapped lower yesterday already on a sell signal, so certainly no change in trend.

Moving on to the TSX, Most Active. Again, these are the price volume weighted most actives. And Royal Bank unchanged on Thursday. Things would change on Friday with a close above $133.68. Then we’ve still got Bank of Montreal on a buy signal. No joy for the Bank of Nova Scotia, still on a sell signal. Then we’ve got Fairfax closing higher yesterday. We’ve got Shopify still on a buy signal. That would change on Friday with a close below $105 and 84 cents. Then we’ve got the TD Bank, second day of a buy signal there. We’ve got Embridge still on a sell signal. No change. We’ve got Suncor back on a buy signal as of Thursday’s close. We’ve also got Canadian Natural Resources back on a buy signal as of Thursday’s close, and then a new closing high for Manulife. BCE rolled over yesterday, so it is back on a sell signal as of Thursday’s close. Okay, folks, that is all for Friday morning’s presentation. So far, it looks like we may see some selling at the open on Friday morning, but those economic numbers coming out at 8:30 could certainly help change the direction of the market.

Have a great day, folks. Have a great weekend. Next time you’ll hear my voice is on Monday morning.

Stephen Whiteside
TheUpTrend.com
Friday, January 26, 2024

Tesla Breaking $200

Good morning, everyone, and welcome to Thursday morning. It’s Stephen Whiteside here from theuptrend.com. In the pre-market this morning, stock index futures are mixed. The S&P 500 and Nasdaq and the TSX are trading higher, while the Dow is trading lower, and that has something to do with Boeing. Boeing is trading down once again on bad news and still holding the recent lows, so that hasn’t broken just yet, but certainly, we’re not heading towards a buy signal on Thursday morning. Now, the VIX is still on a sell signal that’s supportive for higher stock prices. That would change on Thursday with a close above 13.99. Once again on Wednesday, the Nasdaq made a new high for this move. We saw Netflix Gap higher on Wednesday off better than expected results. Then we had ASML up nearly 9%, then Advanced Micro Devices up nearly 6% on the day. Then looking at the Canadian infotech sector, it closed down slightly after making a new high. Now, Shopify was down a few pennies, but it had more to do with Blackberry, which rolled over, unfortunately. We are back on a sell signal as of Wednesday’s close. Looking at the Magnificent 8, we had a new high yesterday for Alphabet, a new high for Amazon.

Not a new high for Apple, but a new high for this move before reversing and closing lower on the day. Did not close below the previous day’s low, so not overly concerned just yet. Then We’ve got Meta making a new high. We’ve got a new high for Microsoft. We had a new high for NVIDIA. We also had a new high for Shopify before rolling over and closing slightly lower on the day on both sides of the border. Now, while all that was going on, Tesla actually made a new closing low for this move going into earnings. If you sold Tesla, if you sold it short, it was up here, and you could have sold it short at 250. At that time, we were looking down two That would be our playing field at 234.38 and then 218.75. Now, we’ve hit both of those targets, so you still have some shares left, and your next price target would have been 203.13, and we are trading below that level in the pre-market. Of course, as we’re coming down to a number like 203.13, you’ve got to assume that the market would try to hold psychological support at 200.

Now, we know that that didn’t hold back in October, where we got down to 194.07. So while we’re trading below the 194.07 in the pre-market, once the market opens, it may try to hold that level. We’ll just have to wait and see. Now, below where we’re trading right now in the pre-market is our next mathematical target, which is both a daily and a weekly price target. So it’ll be interesting to see if Tesla can hold that level. Obviously, we’re getting down to where we’re seeing Panic Selling right now. We’re currently ranked as zero, so we are oversold coming into today’s trading action. We are creating a Pressure Zone down here, so we certainly want to take a buy signal when it presents itself, but it is certainly not presenting itself on Thursday morning. Let’s finish off this morning’s presentation taking a look at the world of commodities and Copper was up sharply yesterday back on a buy signal, and that made copper miners pop, the best performing sector in the sectors that we follow. We had Freeport up, rolled over going into the close, and did not generate It’s not a buy signal, but filled the open gap.

We’ll have to see if it can continue to move higher today. On the TSX, Foran mining was up yesterday, new closing high for that stock. Then looking at the world of gold, the gold miners had a wild day, whether you’re looking in Toronto or in New York. Traded up through the upper channel line before reversing and closing lower on the day, even though the price of gold was only down $10 and still in the recent trading range, so no change there. Looking at Barrick and Newmont, they both had wild days. Again, no change in trend for either of those stocks. Then looking at the price of silver, which was actually higher yesterday, still on a sell signal here. At the same time, silver miners had a wild day and closed lower on the day. Looking at Pan American Silver or First Majestic, both trading lower on the day after having outside reversal days for both stocks. Taking a look at crude oil, looking at the USO, we made a new high for this move and looking to see if we can take out the December high. Gasoline prices were higher yesterday. Natural gas prices were higher.

We made a new low on Wednesday before reversing and moving up on Thursday. The pros are in control at the moment, so that might bode well for natural gas, which made a higher low this week. Now, looking at energy stocks on the TSX, we’re looking for a close above 15.46 for the XEG. In New York, we’re looking for a close above 81.84 for the XLE. And then looking at Synovus on the TSX, we’re looking for a close above 20.92. For Conoco Philips, we’re looking for a close on Thursday above 110.74. At the same time, Baker Hughes went in the opposite direction on Wednesday, making a new low for this move. And looking at Bayex, we traded right up to the upper channel line and closed on it. So any higher close would give us a buy signal on Thursday. Crescent Point, looking for a close on Thursday above 8.84. We closed at 8.81. So again, right on the edge of a new daily buy signal. Okay, folks, that is all for this morning’s presentation. Looks like we’re going to have a mixed open on Thursday morning. Have a great day, and the next time you’ll hear my voice is on Friday morning.

Stephen Whiteside
TheUpTrend.com
Thursday, January 25, 2024

Canadian Stock Market Trends 01242024

Good morning, everyone. Welcome to Wednesday morning. It’s Stephen Whiteside here from theuptrend.com. In the pre-market this morning, stock index futures and commodities are above fair value, so we are looking for some buying at the open on Wednesday morning. Now, the VIX continued to move lower yesterday. That’s supportive for higher stock prices. The Dow had a little pullback yesterday. It had something to do with 3M. We came into yesterday’s trading action already on a sell signal, looking for lower prices. Our next two targets Our target targets were 100 and then 93.75. We almost got down to 93.75 yesterday with a low of 94.11. If 93.75 breaks, then 87.50 would be our next target to the downside. In the pre-market this morning, the big winner is Netflix, which is up sharply, already on a buy signal coming into Wednesday’s trading action. Now moving on to the Canadian stock market. The TSX and the TSX-60 We have generated buy signals as of Tuesday’s close, joining mid-caps already on a buy signal, moving up to retest the recent highs. Then we’ve got small caps back on a buy signal, still waiting for the venture exchange to join the party.

Now, so far, the winners in 2024 have just been a handful of sectors. Infotec has been the big winner, followed by telecom services, followed by consumer staples, and then we’ve got industrials, and the real estate stocks have come back over the past few days. So that’s what’s been holding the Canadian market up. What’s not been working is anything commodity-related, and that may be about to change. So whether you’re looking at base metals or gold stocks or the general mining sector, they’re still all on sell signals here. We’ve got materials moving up into the channel yesterday. Canadian bank stocks are still on a sell signal. That could change today with the Bank of Canada announcement coming out this morning. And then we’ve got energy stocks, energy stocks holding the December lows. We haven’t broken down below those, so that could be a bullish sign going forward. Now, looking at those Canadian banks, we’ve still got some real weakness here with the Bank of Nova Scotia and the TD Bank. Otherwise, we do have some Canadian bank stocks back on buy signals right now, including the Bank of Montreal. Unfortunately, the Bank of Nova Scotia made a new low for this move on Tuesday.

We’re still waiting for the CIBC to join the National Bank on a buy signal as of Tuesday’s close. Then we’re still waiting for the Royal Bank. We need to close above 133.78. We closed at 133.74 yesterday. So again, right on the edge of a new buy signal. And then the TD Bank has traded in the channel for the past couple of days, looking for a close above 82.01 on Wednesday to give us a buy signal. Now, we’ve got a similar situation for Canadian Western Bank. We’re looking for a close above $30.16 on Wednesday to give us a buy signal, which would join Laurentian Bank already on a buy signal. Let’s finish off today with a couple of commodity stocks. The most widely followed energy stock on the Stockhouse Bullboards is BayTex. Still on a sell signal here, looking for a close on Wednesday above $4.21. Athabasca still on a buy signal here. That would change with a close below $4.32. And then we’ve got Tamarack back on a buy signal as of Tuesday’s close. Looking at mining stocks, Canadian Nickel is the big winner. Things would change on Wednesday with a close below a $1.55.

And then we’ve got Ivanhoe making a new high for this move on Tuesday. Okay, folks, that is all for this morning’s presentation. It looks like we’re going to have some buying at the open on Wednesday morning. We also have gold and crude oil trading higher, which could help the Canadian stock market. Have a great day. Next time you’ll hear my voice is on Thursday morning.

Stephen Whiteside
TheUpTrend.com
Wednesday, January 24, 2024

Morning Market Outlook 01232024

This video has been translated into Arabic, Chinese, French, German, Hindi, Japanese, Korean, and Spanish.

Good morning, everyone, and welcome to Tuesday morning. It’s Stephen Whiteside here from theuptrend.com. In the pre-market this morning, things are fairly quiet. Stock index futures are trading right around fair value. Crudol is slightly lower, while gold is up a couple of dollars in the pre-market on Tuesday morning. Now, the VIX continued to move lower, day closing just below the lower channel line, so we are back on a sell signal. That’s supportive for higher stock prices. Now, last week, the VIX was able to trade up towards 15.63 before pulling back. And so 15.63 has been resistant since early November. We’re really going to have to break out above that level before the rest of the stock market is going to start to pay attention. One stock that was in the news from Monday’s trading action, Arthur Daniels Midland dropped over 24% on Monday. That’s the biggest loss, one day loss, I believe, since 1929. You can see that the pros gave up control in the middle of December, so they weren’t expecting anything positive. I’m sure they were not expecting a 24% drop in one day. Now, sticking with commodities, Crude oil moved up yesterday. It’s back on a buy signal.

Natural gas, unfortunately, went in the opposite direction, making a new low for this move. Energy stocks in Toronto were up just a couple of pennies after making a new low. Energy stocks in the US were also up. In both cases, we do not have new buy signals for the energy sector coming into Tuesday’s trading action. Looking at the miners, the price of copper closed lower yesterday, still on a sell signal. Copper miners made a new low for this move. Gold was down $7 yesterday, it’s up $4 in the pre-market this morning. That’s not going to give us a buy signal. Gold miners in New York made a new low. Gold miners in Toronto also made a new low on Monday. Looking at the price of silver, it was down yesterday. Trying to hold support at $22. Silver miners made a new low yesterday and then closed up a penny on the day. Looking at the US market, everything was up on Monday except consumer staples, utilities, and consumer discretionaries. We saw the DOW make a new high yesterday, a new high for the S&P 500 and a new high for the Nasdaq 100. We also saw the Russell 2000 and Russell Microcaps back on buy signals as of Monday’s close.

Looking at sectors, financials made a new high for this move. We’ve got US Bank stocks back on a buy signal. And once again, it’s US Insurance companies leading the financials higher. That’s a theme that’s been going on for quite a while now. Technology stocks made a new high yesterday. Semiconductors were up nicely, and we’ve got Communication Services making a new high. We’ve also got the Transports back on a buy signal as of Monday’s close. Now, Apple continued to move higher on Monday, so The open gap has been filled. We hit our next price target of 193.75. So congratulations if you had an order in there. If we can start closing above yesterday’s high, then $200 is our next price target. What didn’t work? Well, Tesla continued to move lower on Monday, making a new low for this move. Looking at the Canadian market, we’re still waiting for a buy signal for the TSX and the TSX-60, while mid-caps did generate a buy signal on Monday. We did not see as many gainers in the Canadian market as we did in the US market. What worked on Monday, well, it was real estate, followed by health care, followed by financials.

The financials are back on a buy signal as of Monday’s close. We’ve got the TMX continuing to move higher here. We’ve got a new high for this move for CI Financial. We’ve got Onyx making a new closing high yesterday. The Royal Bank is still on a sell signal, generated a sell signal last week. We’re pulled back into the channel yesterday, looking for a close on Tuesday above 133.76. We did pull back last week on the midterm chart, not enough to give us a sell signal. So we are coming into February. February, it should be a pretty good month for financials. Okay, folks, that is all for this morning’s presentation. So far, it looks like we’re going to have a quiet open on Tuesday morning. Have a great day. The next time you’ll hear my voice is on Wednesday morning.

0:00 – Stock Market Pre-Opening
0:19 – Volatility Index Analysis
0:45 – ADM Stock Overview
1:09 – Commodities Trading Insights
2:05 – US Stock Market Update
3:15 – Tesla Stock Analysis
4:17 – Stock Market Closing Thoughts
4:56 – Daily Trading Farewell

Stephen Whiteside
TheUpTrend.com
Tuesday, January 23, 2024

2024 Trading Strategy 01212024

Hello, everyone. It’s Stephen Whiteside here from theuptrend.com, and I hope everyone had a wonderful weekend. In this presentation, I thought we’d spend some time talking about a Trading Strategy for 2024. Now, at the start of the year, everybody wants to know everybody’s predictions, and I really don’t want to make any because I really don’t know which way the market is going to go. I can give you a very strong bullish case. I can also give you a very strong bearish case. At the end of the day, we’re here to follow the money. If we can follow the money in both directions, then it’s a lot easier to make money at the end of the year. We can do that by using Leveraged ETFs. We really don’t care if the Bulls or the Bears win Over the short term. Of course, over the long term, the Bulls always win because the market is designed to go up over the long term. But in the short term, the market can go down. It can go down sharply. And if it wants to go down, we can make money as it falls and not have to worry about which way the market is actually going.

Having a strategy based on the market always going up, works over the long term, but it certainly can be dangerous over the short term. Now, the leveraged ETFs come in pairs. You have a bullish one and a corresponding bearish one. We can be basically market neutral, not caring whether the market goes up or goes down. If the market is going up, we can be long the bull ETF. If the market is going down, we can be long the bear ETF. We can also be diversified. We can pick multiple indexes to follow. We can also look at different sectors of the market that we can either be long or short in. It’s up to you which ones you want to be involved in. We are first going to start off looking at the US market and some US examples, and then we’re going to move on to the Canadian market and some Canadian examples. Starting off in the US, looking at the S&P 500 Index. On Friday, it was up 1.23%. Now, the corresponding ETF, which is the SPY, which is a 1X ETF. It’s not a multiple of the S&P 500, it is an S&P 500 equivalent.

It was up a couple of ticks more than the index itself, so 1.25%. Now, leveraged ETFs come in multiples of that, so either a 2X, 3X, or a brand new, the 4X ETFs. In Canada, we have 2X ETFs available to us. In the US, the most popular are the 3X, and 4X ETFs just came out recently, and not many people are using them so far. Now, I always recommend that you have a basket of these ETFs. Typically, you’re looking at five areas of the market and with a bull and a bear ETF. So there’s two ETFs for each of your choices. And we’ll take a look at some of those in a minute. But these are trading tools. They’re not investing tools. And so they are not equivalents. If you want to be a long term investor in the S&P 500, the SPY would be the best solution. Using the leveraged ETFs, they can lose money over time depending on how many times the market changes direction. We’re specifically talking about a short term trading strategy here. We’re not talking about an investing strategy. Looking at the 3X Bull ETF for the S&P 500, if the S&P 500 was up 1.23%, a 3X Bull should be up 3.69% on Friday.

Well, in fact, the 3X Bull ETF was up 3.62%, so just a few ticks below what our target price would have been, but that’s pretty close. The flip side of that is that the 3X Bear ETF was down 3.72% on the day. So again, we’ve got the opportunity to be either long a Bull or long a bear ETF for each one of these markets. Now, the rules are the same and they’re pretty simple. A Buy signal is the first close above the upper channel line, and a Sell signal is the first close below the lower channel line. Of course, we’re going to have profit targets for every symbol, and we’re going to try to take money off the table as a market moves in our direction. But coming in on Monday, if we were to close below $101.34, that would give us a Sell signal, and we come in on Tuesday morning and liquidate the remainder of our position. Now, we do have 15 charts in the database for every symbol. We’ve got seven daily, seven weekly, and one monthly chart. In this trading strategy, we’re only using two charts, and that’s the Daily Right Side Chart and the Daily Price Targets Chart.

And in this particular example for the 3X ETF, we’re looking to Sell When we get up to 112.50. I would put an order in just below that level. Now, as you can see, as the market is hitting all time highs, it’s also up at the top of our projected trading range. There’s no guarantee we’re going to stop at 112.50. So if you just do the math, it’s easy enough to look at the difference between the lines as you see them on the screen right now and just add another segment above, and that takes us up to 118.75. Now, my strategy strategy has always been to Sell half a position at the first price target and then Sell half of the remainder position at the next price target. Coming into Monday’s trading action, you can see for the triples for the Nasdaq 100, we’re nowhere near the lower channel line, so not concerned about seeing a Sell signal on Monday. For the triple Q’s, once again, we’re up at the top of the projected trading range up there at 56.25. If we start trading above that level, and the next mathematical target right now is 59.38, once we start trading above the top of the projected trading range for a couple of days, we will recalculate a new playing field with higher projections.

But right now, we are just coming up to the top of the projected trading range. Now, all of these ETFs that I’m showing are very liquid. For this particular example, the triple Q’s for the Nasdaq 100 traded over 92 million shares on Friday. Now, when we look into the different sectors, it’s up to you what you’re interested in. I’m mostly interested in resource stocks. Some people are interested in biotechs or financials, etc. And so right now, the bear ETF for the energy sector is currently on a Buy signal, making a new high for this move on Thursday, coming back a little on Friday. We hit our next price target of 31.25 on Thursday. So congratulations. You got to lock in some profits. Our next profit target is 32.81. Then looking at the bear ETF for the gold sector. For DUST, Dust. We are hitting a new high on Friday. Our next price target is 13.28. As you can see, we’ve been short the gold miners since the start of the year. Now, another area of the market you might find interesting is the small caps, and we’ve been bearish on the small caps all through the start of 2024.

Now, we dipped into the channel on Friday, so there’s a mathematical possibility of a Sell signal for the bear ETF on with a close below 21.93. We were trying to get to $25. That was our next profit target. So far, we have not been able to do that. So this trade could end without taking any profits. Looking at the bull ETF for the small caps, and again, this is fairly liquid. Over 29 million shares traded on Friday. On Monday, we’re looking for a close above 35.70 to give us a new daily Buy signal. Now, this is all emotional free trading. I’m going into Monday not caring at all which way the market goes this week. If it’s going to go up, that’s great. If it’s going to go down, it doesn’t really matter. I’m going to be able to have the opportunity to make money no matter which way the market goes. Next up, let’s take a look at the Canadian 2X ETFs. If you’re not a Canadian investor, if you’re not involved in Canadian market, I would suggest you just watch to the end of the video because you may learn a couple of more things here that I have not mentioned already.

The Canadian market is a little different than US market right now. We are currently short the Canadian market or long the bear ETF. And so coming into Monday’s trading action, the bear ETF actually dipped into the channel on Friday. And so on Monday, we’re looking for a close below $6.40 to kick us out of the bear ETF. Now, you’d think that we’d automatically go into the bull ETF if that were to happen, but transitions don’t always happen on the same day. So it is possible that we get a Sell signal in the bear, but not get a Buy signal in the bull on the same day. And sometimes those transitions don’t happen at all. We could get a Sell signal in the bear on Monday, have the market pull back on Tuesday, and still not get a Buy signal in the bull. And in fact, if the market would continue to move lower on Tuesday and Wednesday, we might actually have to go back into the bear ETF and not spend any time at all in the bull ETF. So speaking of the bull ETF, we’re looking for a close on Monday above $20.15. Now, the bull ETF was up 1.42% on Friday, so that should be twice as much as the unhedged ETF, and that was up 0.76%. So the XIU, which is the most actively traded and actively followed ETF in Canada, was up 0.76 %.

So a little less than what the 2X ETF was, but pretty close. And so you’re almost getting twice the bang for your buck using the 2X ETF. Now, in Canada, the selection is not as big as it is in the US. Now, for Canadian investors looking for Canadian-only options, I would suggest these five pairs. Now, there are other pairs available. In fact, natural gas is one of the most popular, but it is extremely volatile. And if you want to play with this one, well, you need to be a very seasoned a trader to do so. Looking at the bear ETF for natural gas on Friday, it was actually down nearly 14% on the day, and that’s not unusual for this particular ETF. So that’s extreme volatility. At the other end, you’ve got very thinly traded ETFs such as the financials. Now, financials by themselves are not the most volatile sector of the market to begin with. This area of the market doesn’t attract a lot of traders. In fact, for this particular ETF, the bull ETF for the financial sector, it was less than 10,000 shares traded on Friday. Just be aware of that. I’m looking at the major pairs.

For the TSX, for the S&P 500, if we look at this chart, you can see we dipped down and spent all day trading below the lower channel line. But if we go back to Wednesday’s chart, you can see we were looking for a close below $17.89. We actually closed at $17.90, so right one penny above the channel line. So that did not generate a Sell signal. Our first profit target for the S&P 500 2X ETF is 18.75, then 19.53. Looking at the Nasdaq 100, again, making new highs here. And in this case, we’re trading above our projected trading range. And of course, over the next couple of days, if we stay up here, we’re going to calculate a new playing field. But right now, if you just do the math, the next price target is 1797. And as a backup, you can always go to the weekly chart. I said we only use two charts, but sometimes you might want to go to the weekly chart and see that the next major price target is 18.75. Now, looking at the energy sector, we are long the bear ETF at the moment, looking for a move up to 6.25.

For gold stocks, again, we are long the bear ETF. Our next profit target is 6.64. We’ve already hit a couple of profit targets during the month of January and looking to continue to move higher. Is this a realistic target? Well, yeah, we were up at that level back in November, so it is certainly a realistic target to the upside. Okay, let me wrap up this presentation by giving you one more very interesting tidbit, and that is the fact that you can do this trading strategy in a retirement account. It’s not normal for you to be able to short a stock or short the market in a retirement a retirement account, but you can go long a bear ETF in a retirement account. That means you can make money when the market is falling and everybody else is crying about the fact their retirement investments are going down. Again, this is a trading strategy, not an investing strategy. You should be diversified. It’s fun to start out with just one ETF, but you probably want to start off with several pairs. I recommend five, some indexes, sectors. As I mentioned, I have an interest in the resource sector.

Some people have a strong interest in biotech’s and semiconductors and other areas of the market that we didn’t talk about here, and that is certainly doable. There’s lots of opportunities, especially in the US market, to be diversified. Okay, thank you very much for your time and attention. Next time, you’ll hear my voice is on Tuesday morning. And of course, if you have any questions at all, please drop me an email, and I’ll be glad to reply as quickly as possible.

0:00 – Introduction to Leveraged ETFs

0:39 – Understanding Leveraged ETFs

1:54 – S&P 500 Leveraged ETFs Explained

5:38 – Nasdaq 100 Leveraged Trading

6:27 – Energy Sector Leveraged ETFs

6:57 – Gold Leveraged ETFs Overview

7:15 – Small Caps Leveraged ETF Strategy

8:12 – Canadian Market Leveraged ETFs

12:44 – Leveraged ETFs for Retirement Accounts

13:16 – Diversification with Leveraged ETFs

13:48 – Concluding Leveraged ETF Strategies

Stephen Whiteside

TheUpTrend.com

Sunday, January 21, 2024

Morning Market Outlook 01182024

Good morning, everyone, and welcome to Thursday morning. It’s Stephen Whiteside here from theuptrend.com. In the pre-market this morning, stock index futures are above fair value being led higher by the Nasdaq. Commodities are mixed with gold higher while crude oil is lower in the pre-market. Now, we do have a jobless claims that housing starts coming out at 8:30 this morning, and they could certainly add to the pre-market volatility. Now, looking at the VIX, the VIX is still on a buy signal. That’s bearish for stocks. Things would change on Thursday if the VIX were to close below 12.98. Now, in North America, we are enjoying watching our major indices hit all-time highs. At the same time in China, the market is continuing to collapse. Waps in 2024. Probably not a good omen for the rest of the world. We’ve got this particular ETF breaking down below our projected trading range. When we look at the Daily Fly Paper channel chart, you can see there was some Optimism back in July of last year, but for the most part, the Fly Paper channel acted as resistance and continues to point lower. So not a good sign, probably not a good sign for the rest of the world in 2024, but we’ll just have to wait and see.

Now, Wednesday was a losing day on the North American markets, and the markets were led lower by silver miners, followed by gold miners, the GDX, the XGD, and then Copper miners were not too far behind. And of Of course, if you’ve got all these mining stocks moving lower, that’s going to put pressure on the Canadian market, and the TSX is back on a sell signal as of Wednesday’s close. The biggest loser was First Quantum, and we’re still on a buy signal here. Things would change on Thursday. Tuesday, if we close below 12.37. And then Pan American Silver was down over 6%, nearly 7% on the day, gapping lower, heading down to the lows from back in November. Then looking at the TSX 60, we’re back on a sell The biggest loser was Imperial Oil, which was down over 4% on the day, back on a sell signal. Of course, the biggest gold stock is Barrick, and Barrick gapped lower on Wednesday. And you can see it’s trying to hold the lows from back in November. Now, the Dow is already on a sell signal. The biggest losers yesterday were Walgreens and Caterpillar. Caterpillar back on a sell signal.

The biggest winner was Boeing, which, of course, has been dragging the Dow down over the past week. It had an inside day. It’s trying to hold $200. If we go back a few weeks and if we were shorting a Boeing, we would have told you to take profits at 234.38 and then 218.75. That would have been your playing field. We actually gapped down below 234.38, and then that acted as resistance. And then our next stop was 218.75. And then we gapped lower down to the 203.13 level. There’s Obviously going to be psychological support at the $200 level. If we continue lower from here, then 187.50 is our mathematical target, but we also have to look back, and there’s an open gap that hasn’t been filled yet. And then we’re probably using the high from back in October as an area of support at the moment. And so there is some obstacles in the way before we get to 187.50. And of course, Boeing could start to head up from here. That’s the first sign that something new is happening if we fill that open gap, which is just below the 218.75 level. Then looking at the S&P 500, we’re still on a buy signal.

That would change on Thursday with a close below 471.45. The biggest loser was Albemarle, and it has continued to move lower. It’s been on a sell signal since the start of the year. Then looking at the Nasdaq, we’re still on a buy signal here. That would change on Thursday with a close below 403.21. The biggest loser on the Nasdaq 100 was CrowdStrike. Then looking at the Magnificent Eight, they’re still holding up. We’ve still got Alphabet on a buy signal, Amazon on a buy signal. In both cases, we traded down to the lower channel line yesterday. We did not close below it. Apple’s still on a sell signal, trying to hold 180. 181.25 is our mathematical level of support. If that breaks, then $175 is our next target to the downside. And Of course, if you follow back, what was previous resistance back in October is currently acting as support. Then looking at Meta, Meta is still on a buy signal here. No change, no change for Microsoft. No change for NVIDIA. Nvidia is now up at our next price target of 562.50. If we can continue higher from here, then 593.75 would be our next target.

And then Shopify trading down into the channel yesterday on both sides of the border, still on a buy signal. And then last up, we’ve got Tesla making a new closing low for this move on Wednesday. Okay, folks, that is all for this morning’s presentation. So far, the market looks like it wants to be buying some tech stocks on Thursday morning. At the same time, We do have those economic numbers coming out at 8:30 that could certainly change the direction of the market. Have a great day, folks. The next time you’ll hear my voice is on Friday morning.

0:00 – Stock Market Pre-Market Analysis
0:36 – Major Stock Indices Overview
1:15 – Commodities Market Update
2:18 – Dow Jones Industrial Average Insights
3:38 – S&P 500 Index Analysis
3:55 – Nasdaq 100 Tech Stocks
4:06 – Top 8 Stocks to Watch
5:08 – Stock Market Closing Thoughts

Stephen Whiteside
TheUpTrend.com
Thursday, January 18, 2024

Morning Market Outlook 01152024

[00:00:00]: Introduction to Monday morning market update
[00:00:50]: Weekly VIX analysis
[00:01:40]: Winners and losers from last week
[00:02:04]: Monthly price target charts update
[00:03:18]: Analysis of market resistance levels
[00:04:10]: Importance of venture exchange for4 market trends
[00:05:00]: Price target charts for select companies
[00:05:42]: Analysis of Tesla’s market trend

Good morning, everyone, and welcome to Monday morning. It’s Stephen Whiteside here from theuptrend.com. Well, in the pre market, things are fairly quiet. Stock index futures and crude oil are trading below fair value, while gold is trading higher. Now, US markets are closed.

There is electronic pre market trading, but the markets are closed today, which means Canadian markets are going to be very thinly traded. So I wouldn’t react too much to anything that happened in the canadian market on Monday without any adult supervision from the US market. We will post canadian charts tonight. But again, I wouldn’t overreact to anything that happens in the canadian market on Monday. Now, starting off looking at the VIX, when we look at the weekly VIX chart, we’re still on a sell signal here that’s supportive for higher stock prices.

Things would change this coming Friday if the VIX were to close above 15.13. Then looking at a daily chart of the VIX, we want to remain short term bullish on the market unless the VIX closes above 13.63 on Tuesday. Next up, let’s take a look at the winners and losers from last week. And the best performing sector in North America was canadian technology stocks. And the big winner there was Aritzia, followed by Shopify.

In the US, it was us technology stocks being led higher by Juniper Networks and then Palo Alto. What didn’t work last week? Well, Canadian Marijuana stocks were down nearly 5%. And then we had US Oil and Gas equipment companies, and then we had US Regional Banks. Those were the biggest losers from last week’s trading action.

Let’s finish off this morning’s presentation, looking at some monthly charts. And typically we post the monthly right side chart every weekend. But today I uploaded monthly price target charts. Now, we don’t do these often. The reason for that is a lot of the symbols in the database do not have enough data to actually create these charts, so we don’t update them that often.

But I wanted to update them this weekend because we do have some areas of the market hitting resistance. And this could be the time and place where the market starts to pull back. You can see, for example, the DOW is up at 37,500. We closed at 37,592 on Friday. Then looking at the S&P 500, our next target is 5000.

So the market still may want to take us up to that level. You can see the Nasdaq Composite is at 15,000 on Friday. We closed at 14,972 and change. Then looking at the Russell 2000, what do you know? 2,000 is acting as resistance and we’ve pulled away from that.

So in 2024, the Russell is actually down 3.75% after the first two weeks of trading. Then looking at the TSX, you can see 21,250 is our next target. We’re trading just below that at the moment. Then looking at the TSX, 60, 1250 is our big number, and we’re closing and trading just above that right now. So there is a possibility we could pull away and head up towards the 1375 level.

Then looking at the Venture Exchange. And I want to watch this one closely, because it could tell us a lot about what’s going to happen in 2024. What’s happening so far in 2024 is a handful of sectors are pushing the markets higher, but it’s not the whole market. And when we look at the venture exchange, of course, these are mostly micro cap resource stocks. And in 2023, 2022, they haven’t done very well.

They peaked back at the end of 2020. And so we are in a tight range here. We’re finding support down at the 500 level, and we’re finding resistance at 625. So we’ve been in this range for over a year, nearly two years now, and we’ll be looking to see if we can break out of this range. If we can start breaking out above 625, that would certainly be an indication that the rally is starting to broaden out, and that would be very bullish for the overall market.

Of course, if we start breaking down below 500, heading towards 375, that would be very bearish for the overall market. So we’ll just have to see how things work out going forward. But we are up at major areas of resistance for the DOW and for the Nasdaq and for the Russell 2000 and for the TSX. And this is the time and place where the market may want to pull back. So we’ll just have to wait and see.

As I mentioned, a lot of the symbols in the database don’t have enough data to produce monthly price target charts. Yes, they can produce other monthly charts, but not the price target charts. And so here’s an example. Any of the Arc etfs do not have enough historical data, then we can look at a company like Apple, which certainly does, and you can see 200. If we break out above 200, then 225, 250 could be the next targets in 2024.

And, of course, if we break down 150 and 5125 could certainly be areas of support. Then looking at Tesla, we’ve run up to 250. We’ve pulled back. And so far in 2024, Tesla is down nearly 12%, and we’ve worked ourselves into a nice little triangle here. There’s something for the bull, a series of higher lows.

And there’s something for the bears, a series of lower highs. And so we’re going to be watching, the whole market is going to be watching to see if we break out of this triangle. And so far, right now, it looks like we’re going to break down below the uptrend line. And if that happens, of course, that’s bearish for the market. Looking for support at 187.50.

If that breaks, then we’re looking for support at 125. And you can see at the end of 2022. So a little over a year ago, we were trading down below 125. Okay, folks, that is all for this morning’s presentation. Again, us markets are closed.

Expecting a very quiet day in the Canadian markets. Have a great day. Next time you’ll hear my voice is on Tuesday morning.

This video has been translated into Arabic, Chinese, French, German, Hindi, Japanese, Korean, and Spanish.

Stephen Whiteside
TheUpTrend.com
Monday, January 15, 2024