Stock Market Timing 10012023

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

Hello, everyone. It’s Stephen Whiteside here from theuptrend.com. Hope you’re having a wonderful weekend. Very nice weather up here this weekend. Let’s start off with a little housekeeping. This is probably going to be my last video that I’m going to be doing on Saturday or Sundays. I’ve got some new partnerships starting up and I’m going to be doing regular Monday to Friday videos. For many years, I didn’t do a Monday video because I did a Sunday video. But to fit in with everybody’s publishing schedules, I will be doing Monday videos from now on. Now, some people are asking about how our dog, Ursha, is doing and it’s been three years since we adopted her. First of all, we fostered her, then we adopted her and she’s four years old now and she’s doing very well. So thank you very much for everyone who is asking about her. Now, let’s start off looking at the seasonality chart for the S&P 500. We were looking for buying into the middle of September and then selling into the end of the month. We didn’t quite get that. We certainly started off on the right foot, but quickly that started to fail.

We had one day where we closed above the upper channel line that quickly reversed and we’ve been heading lower ever since. Our mathematical target was 421.88 on both the daily and weekly chart and we traded right down to that. In fact, we got it as close as less than 50 cents away from our price target before the market reversed on Wednesday and started to move back up on Thursday and Friday. Friday ended on a negative note, but it did just start to trade above Thursday’s high. Now, the US government is not shutting down this weekend and so we could see a relief rally on Monday. If we do start to move up, you can see we’re so far finding support at the 200-day moving average. The 50-day moving or the 100-day moving average is not that far above us. You can see we’re projecting up to that level and then a reversal back down to make lower lows. We do have other targets on the way back up. The bottom of the open gap is at 435.97 for the SPY. Of course, we’ve got the August lows at 433.01. Then our next mathematical target is 437.50. That doesn’t take us all the way up to fill the gap.

If we are heading up in that area, then the top of the open gap is just above the 437.50 level. Of course, we’ll watch that closely depending on what the market does going forward. Now, the market started to fall apart when Apple started to fall apart. It took some time for some of those other tech stocks to roll over, but it was really Apple that started the move down. On Thursday, it made a new low. On Friday, it closed higher, but only by 52 cents. We’ll be keeping an eye on Apple. If the market wants to go up on Monday, a close above $176.15 would give us a new buy signal for Apple. Now, remember, in the month of September, we started off with a wide bar and then we had two inside weeks in a row. An inside week and then an inside week of an inside week. Price action was starting to contract and we were looking for expansion either to the upside or to the downside and it expanded to the downside. I don’t think that’s going to correct itself very quickly, but we’ll just have to keep an eye on which way the market goes next.

Now, the VIX is still on a weekly buy signal that, of course, is negative for stocks. Things would change this coming Friday if the VIX were to close below $13.88. If you’re watching the market on Monday, we traded all the way down to the lower channel line on Friday before reversing and actually closing higher on the day. On Monday, if the VIX were to close below $15.74, that would be supportive for higher stock prices across the board. You can see we didn’t make it too much higher than the 18.75 level, found resistance up there. We’ll be watching to see if we can take out that recent high going forward in the month of October. Now, the US dollar index moved up, moved up to our next weekly price target of 106.25. On the daily chart, we dipped into the channel on Friday before reversing. On Monday, a close on the US dollar index below 105.41 would give us a sell signal, and that would probably be supportive for higher stock prices at this time. Now, bonds continue to move lower this week. Bond yields continue to move higher. That was one of the reasons we’re seeing downward pressure on the stock market.

Now, while bond yields were going up, utilities were continuing to decline. In the US, the SPDR Utility index closed down 6.89% on the TSX, the iShares Utility ETF closed down 6.03 %, making new lows for this move in both cases. Now, the TSX has had a terrible year. It’s been in a tight range. It’s currently up less than 1 % for the year. So far, it’s traded between these two levels all year, and we’ve continued to make lower highs. We made a high back here, then a lower high, then a lower high, and then recently, we made another lower high. That is all bearish. Now we’re looking to see if we start to make lower lows. So far support is holding at 19,375. That is holding us in check. We’ll just have to see if we take out this week’s low this week. Now, the seasonality chart for the TSX puts more emphasis on October to the downside than September. September, we’re supposed to see buying into the middle of the month, then selling into the end, and continued selling into October before the market starts to reverse and head up. That’s what we’re looking for, is this big end-of-year rally to start at some point, and it certainly didn’t start on Friday.

Now looking at crude oil, crude oil made a new high for this move this week and ended the week just slightly higher up 45 cents on the week. The seasonality for crude oil doesn’t look good from the middle of October on, so we’ll have to keep an eye on that. It didn’t peak at the end of June this year. In fact, that’s when the rally really started. The seasonal tendency is we peak in the middle of October and head down into early December. Then looking at natural gas, it’s been dead all year. I certainly couldn’t predict this going into 2023, but we’ve been trading up, above and below the 3.13 level all year. If we’re really going to see things change going forward, we need to see natural gas start breaking out above 3.40. The seasonality for natural gas looks pretty good from here on. You can see that we do dip into October, but then we actually make a higher high, a higher low, then a higher high into the end of November. From now to the end of November, things could be good for natural gas if the seasonal tendencies start to kick in.

Then after the end of November, it looks like we get selling going into year end. We’ll just have to keep an eye on that. Now, we do have early warning signals on the weekly charts for energy stocks on both sides of the border. Looking at the iShares for the TSX Energy Sector, we are still looking okay here. We did trade below the previous week’s low. Last week, we actually closed below the previous week’s low, which is bearish. Then this week, we continue to trade below, but we came back going into the end of the week and ended the week up 2.69%. Looking at the energy stocks in the US, there’s the SPDR Energy ETF. We got an early warning signal up there. Again, three weeks ago, we peaked. The next week, we closed below the previous week’s low. This week was actually an inside week for energy stocks in the US. In the US, in the end of the week, up 1.21%. I think time is running out for the energy sectors on both sides of the border. If we go back and look at the TSX, the TSX has traded up to the highs from late 2022.

So far, those highs are holding us in check. Then looking at the US energy sector, we’re trading up to the highs from about the same time period, and those highs are currently holding us in check. It looks to me like the run for the energy sector is probably going to come to an end in the next couple of weeks. Then looking at the price of gold, it was down $79.50 on the week, making a new low for this move, starting to dip below 1875. On our weekly chart, our next price target, if we start to break away from 1875, is 1750. Then looking at the seasonality of gold, it looks weak going into the first week of October. Then from here into the start of December should be pretty good. But so far, we have no evidence that the market has started to turn around just yet. Now, energy stocks on both sides of the border have been weak for most of this year. Looking at the GDX, we had a made a new low on Friday. Looking at the XGD, we also made a new low for this move. We’ve been on sell signals in both sides of the border for quite a while now.

Okay, that’s all I wanted to cover today. I’ll be back in the morning and we’ll look at some more daily charts. We’ll look at the most actively traded stocks on both sides of the border and take it from there. Enjoy the rest of your weekend. Next time you’ll hear my voice, of course, is going to be on Monday morning.

Stephen Whiteside
Sunday, October 1, 2023

Stock Market Timing 09292023

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. Well, this is the last trading day of the month, and what do you know? The futures are trading higher this morning. We’ve got stock index futures and commodities trading up in the premarket. We do have economic numbers coming out at 8:30 this morning that could certainly change the overall direction of the market. But of course, month end usually has a bullish bias to it, and that’s exactly what we’re seeing right now. Now, the stock markets traded higher on Thursday, and they got a little support from the US dollar index that had a small pullback on Thursday. We also saw a small pullback for bond yields after making a new high, and then we had a small pullback in crude oil. Crude oil was down $1.71 yesterday. It’s up a dollar last time I checked in the premarket. So not looking for a sell signal for crude oil on Friday. Now looking at the seasonality chart for the S&P 500, we are expecting buying into the middle of September and then selling going into the end of September. That’s pretty much what we saw.

Then we’re looking for some buying into the first week of October. That may have started yesterday, and then additional selling and possibly a lower low in October before the market starts to move up into the end of year seasonality trend that takes us higher into year end. Now, just a different version of this chart. This chart is up to date, whereas this one is from 1990 to 2009. The reason I want to show you this is that the last 13 years or so has really smoothed out this chart and has taken a lot of the emphasis off weakness in October. We used to fear October a lot more than we feared September, and now they’re basically equal. This chart doesn’t even include the crash of ’87, which happened in October. Previously, the market was a lot more concerned about October than it is today. Well, hopefully, that’ll be the case this year. The sell in May and go away crowd, of course, they’re going to sell on May first and come back on November first. Why are they coming back on November first? Well, seasonally, the period from November to the end of the year is very strong and we certainly want to participate in that when the market does turn around and that may have started yesterday.

We’ll just have to wait and see how much follow through to the upside we get. Now, the VIX made a new high on Wednesday, pulled back on Thursday, closed below the previous days low. So that’s bearish for the VIX and bullish for the stock market. We don’t have the VIX back on a sell signal just yet. We don’t have the VIX below the Fly Paper channel just yet. But this is the time and place where things like this could start. We’ll just have to wait and see. Now looking at the major US index ETF starting with the Dow, we did close above the previous day’s high for the Dow, but the S&P 500 and Nasdaq certainly did, as did the Russell 2000. There is some bullishness out there, not enough to start a new trend, but enough to get people’s attention on Thursday. Microcaps also traded up and closed above the previous day’s high. This could be the making of a bottom for the market? Only time will tell. Now, retail stocks were the big winners in the US on Thursday. Oddly enough, a couple of big retailers made 52-week lows yesterday. We’ll take a look at that in a minute.

Utilities were the big losers in the US. What didn’t work and what worked on the Dow? Well, the big winner on the Dow was Intel followed by Caterpillar. Caterpillar needs a close above 278.47 to give us a buy signal on Friday. You can see we held the August lows for Caterpillar, so that could be bullish going forward. Then looking at what didn’t work on the Dow, well, Boeing was the biggest loser followed by IBM. Then making 52-week lows yesterday, Advanced Auto Parts continues to drift lower day after day. Then we also saw a Dollar General and target make 52-week lows, even though retail was the big winner on Thursday. Then just a stock, you call it Chewy or call it Pets.Com. They both look pretty similar. And if you haven’t been in the market for a long time, pets. Com was one of those big stocks that blew up during the dot com bubble and crashed and burned and went away. And of course, Chewy could be continuing that tradition today. Now, Newmont also made a new 52-week low yesterday, as did some other gold stocks. Looking at the Canadian market, not as much enthusiasm as we saw in the US market.

The TSX had an inside day, little more strength for the TSX 60. Then mid caps, small caps, and micro caps were all up on the day, but not a major trend change for any of those areas of the market. Now, base metals was the big winner on Thursday, and the big loser was marijuana stocks. The gold stocks ended the day after making a new low, ended the day up a penny, looking at the iShare’s global gold ETF. Then energy stocks ended the day up three cents after making a new high. They’re still on a buy signal. Now, the big winner on Thursday was Teck, which is back on a buy signal followed by CCL Industries, which needs a close $57.41 on Friday to generate a buy signal. A new low for this move for TC Energy and then Algonquin Power had another bad day. It made a 52-week low on Thursday. B2Gold, when I mentioned, Newmont. Previously, Newmont in Canada also made a new low yesterday. B2gold made a 52-week low on Thursday. Now, the TD Bank appears to still be the strongest Canadian bank, while Bank of Nova Scotia continues to look like the weakest Canadian bank.

Right now it is holding its August lows, so that could be a good thing going forward. We’ll just have to wait and see. Shopify made a new low yesterday. It’s holding 6,875. If that breaks, our next mathematical target is 6,250, but you’ll see that the bottom of the open gap is just above that. That could also act as a price magnet if Shopify starts breaking down below 6,875. Let’s finish off with a quick look at the major telecom stocks. They all had inside days on Thursdays after making new lows on Wednesdays. So BCE, Rogers, and TELLUS all looking pretty similar at the moment. Okay, folks, that is all for this morning’s presentation. Enjoy the rest of your day. Enjoy your weekend. Next time you’ll hear my voice is on Monday morning.

Stephen Whiteside
Friday, September 29, 2023

Stock Market Timing 09282023

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

Good morning, everyone, and welcome to Thursday morning. It’s Stephen Whiteside here from theuptrend.com. In the premarket this morning, stock index futures are fairly quiet. They’re slightly above fair value. Commodities are mixed with crude oil lower, while gold is slightly higher on Thursday morning. Well, things are pretty quiet right now. We’ve got economic numbers coming out at 8:30 this morning. We’ve got jobless claims and GDP numbers. They, of course, could both add to the premarket volatility this morning. Yesterday was an interesting day. We made a new low for this move and then saw some buying going into the close. For the most part, we ended the day flat. Of course, the first thing I’m looking for is the first close above the previous day’s high. When the stock market was moving up, the first thing I look for is the first close below the previous day’s low. You can see when that happened and the market continued to move lower. Then once it moved up, you can see we closed below the previous days low and things continued lower from there. Now, the VIX made a new high yesterday before reversing. It did not close below the previous days low, so not overly concerned just yet.

At the same time, bond yields continue to move higher. Bonds themselves continue to move lower. Whether you’re looking at the TLT or the XBB, then the US dollar continued to move higher, and of course, the euro continued to move lower. So none of those major trends have changed, even though we saw a little buying in the stock market on Wednesday. Looking at the world of commodities, we’ll start off with the energy sector, looking at the major US energy ETFs. Starting with the USO, new high for the USO on Wednesday, gasoline moved up into the channel. A close above $73.21 would give us a buy signal on Thursday. Natural gas is struggling here, and it’s got a similar chart pattern to a lot of other symbols: lower highs, lower lows. If we need a buy signal on Thursday for natural gas, we need to close above $6.88 cents. Then looking at the stocks, the energy sector on both sides of the border generated buy signals on Wednesday. There’s the XEG on the TSX and the XLE in New York, both back on buy signals. Of course, both of these would be considered high risk buy signals.

You’re up at the top of the Panic Zone. The easy money has been made, and we’re looking for crude oil to continue to move higher from here to help pull these energy stocks higher. Looking at the mining sector, starting off with the metals, they’re all on sell signals at the moment. There’s the GLD breaking down below the August lows on like silver, which is still holding on to those August lows. Then we’ve got palladium and platinum both struggling, and then copper is still on a sell signal. New low for copper on Wednesday. Then taking a look at the miners, copper miners making a new low for this move, gold miners on both sides of the border. There’s the GDX, there’s the XGD. Then Silver Miners also making a new low for this move on Wednesday. Next up, let’s take a look at the major stock market index ETFs that we love to follow starting in Toronto, looking at the iShares for the TSX 60. New low for this move. We’ve obviously taken out the August lows. Now we’re trying to find support from back in June. Then we had a new low for the Dow.

Again, we recovered going into the close. We still closed lower on the day, so no change there. Then there’s the SPY slightly higher on the day after making a new low. That’s a similar situation for the Nasdaq-100, closing a little higher than the S&P 500 on the day, but again did not close above the previous day’s high. Then looking at the iShares for the Russell 2000, a lot of people commented about the fact that there seemed to be an interest in small cap, micro cap stocks on Wednesday, but not enough to close above the previous day’s high. That’s also true for the iShare’s microcap ETF. Let’s finish off this morning’s presentation, taking a look at the StockHouse Bullboards for the energy sector. The most watched stock is Baytex, followed by Athabasca and then Pipestone. The energy sector itself is back on a buy signal. Here’s the iShare for the TSX energy sector. Of course, a lot of these trades are extension trades. They’re high risk trades. We’re already starting up at the top of the panic zones. We’re very overbought. So this isn’t something you want to jump in on if you’re new to the energy sector.

We are stuck here at 17.19. If we can keep going higher then 17.58 17.97 are the next two targets, and they’re also the top of our projected trading range. Now, there’s Baytex back on a buy signal as of Wednesday’s close. If we can take out the recent high, then 6.25 and 6.64 come into play. Then looking at Athabasca, it’s the second day of a buy signal, new high for this stock. If we can break away from 4.10, then 4.49 and 4.88 are the next targets. Pipestone, on the other hand, is on its fifth day of a sell signal, new low for this move on Wednesday. Then looking at Uranium Energy, the stock is still on a buy signal, no change. On Wednesday, things would change. On Thursday, if we close below $4.97. If we can take out the recent high, which is at resistance at $5.47, then $6.25 and 703, $7.03 would come into play if we can take out that recent high. Then looking at the Tamarack Valley, we’re sitting right on the edge of a new daily buy signal. Any higher close on Thursday would give us a new buy signal. Again, we’re up here trying to deal with recent resistance.

If we can take out 4.10, then 4.30, and 4.49 come into play. Then last up, the most actively traded energy stock on the TSX was Canadian Natural Resources. Second day of a buy signal traded right up to the recent high. Then we’ve also got Suncor back on a buy signal as of Wednesday’s close. Okay, folks, that is all for this morning’s presentation. Wait for those economic numbers to come out at 8:30. No major trend changes from Wednesday’s trading action, except we’ve got the energy sector back on a buy signal. Again, this is a high risk buy signal. You’re already very overextended, and we’ll just have to see if the price of crude oil can continue to move higher from here. Of course, the price of crude oil continuing to move higher is inflationary, and it’s probably not good for the overall stock market. Enjoy the rest of your Thursday. Next time you’ll hear my voice is on Friday morning.

Stephen Whiteside
Thursday, September 28, 2023

Lower HIghs, Lower Lows 09272023

Good morning, everyone, and welcome to Wednesday morning. It’s Stephen Whiteside here from theuptrend.com. In the premarket this morning, things are fairly quiet, stock index futures are slightly above fair value, crude oil is higher while gold is down another $7 in the premarket. We’ve got a durable good orders coming out at 8:30 this morning. Then we’ve got energy inventories coming out later in the morning. Let’s start off with a little apology. I’ve been off for the last couple of days. I’ve had to take some unscheduled time off. I recently had the Shingles vaccine and it did not agree with me at all. It’s put me on my back for a couple of days now. Here we are back at work on Wednesday morning. Now looking at the VIX, unlike the stock market, which is making lower highs and lower lows, the VIX is starting to make higher highs. If we just go back across, we go back into the start of July, we made a high, then a higher high, higher high, and another higher high. Of course, that is bearish for the stock market. We’re trying to break away from the 18.75 level. Our next mathematical target is 20.31.

If we were to break away from 18.75, we’d also break away from the 200-day moving average. If we continue to move up, that, of course, would be bearish for the stock market. Now, the US dollar index isn’t helping the stock market that much at the moment. It made a new high yesterday, and it’s gaining strength against not only the Euro, but a lot of other major currencies around the world, including the British pound and the Japanese Yen. Looking at the bond market, the bonds continue to move lower on Tuesday. Bond yields continue to move higher on Tuesday. That, of course, is not good for the stock market. Looking at crude oil, we’re coming off a new early warning signal up at the top of the panic zones here. We’re trying to break down below 87.50. That hasn’t happened yet. We’ve traded below it, but we haven’t closed below it. We’re trying to break out above 93.65. If we can do that, then 83.75 would be our next target to the upside. We’re trading higher in the premarket this morning, so there’s certainly a possibility of making a higher high on Wednesday. Now looking down on crude oil, if we want to see a sell signal here, we need to close below 87.16 on Wednesday.

That would give us a new Sell signal for crude oil. And if that were to happen, that, of course, would join natural gas already on a Sell signal starting to break down below $2.93. Our next mathematical target would take us back down to the lows from early June down at 2.73. And if we want to buy signal and natural gas, we need to close on Wednesday above $2.99. Looking at the metals, Copper made a new closing low yesterday. We’ve got a new closing low for this move for gold. It’s taken up the earlier September low, and now we’re looking to see if we can find support at the August low. Silver holding up a lot better than gold at the moment, but it is back on a sell signal as of Tuesday’s close. Now, month end is just ahead of us, and of course, that has a bullish bias for the stock market. But in a down market, that doesn’t guarantee that we’re going to close higher. It can often just help take off some of the downward pressure that we’re seeing during a down market. Now, looking at the DOW itself, it has broken down below the August lows, so has the S&P 500 heading towards our next target of 421.88 on the SPY.

Then looking at the QQQ’s, they’re starting to break down below the August lows. Our next mathematical target is 351.56. Now, the semiconductors held up fairly well yesterday. They were down nearly 2 % but didn’t take out the recent low. They’ve certainly taken out the August lows but there’s a lot of sectors that have also done that and are looking fairly weak. Even the Russell 2000 or the MicroCaps, they broke down quite a while ago. Then when we look at consumer staples or retail or real estate or transports, they’ve all broken down below the August lows. Much of the market is slipping away at the moment. Can we get a bounce here going into month end? Well, if we do get a bounce, it probably won’t be enough to give us any new daily buy signals. Now moving over to the Canadian market, wasn’t that long ago we were looking to see if we were going to take out the summer highs, but that quickly reversed. Now we’ve taken out the summer lows for the TSX, the TSX-60 for mid caps, small caps and micro caps. The August lows are no longer in play. Then looking at some of the sectors, energy is still holding up fairly well.

It traded up into the channel. I saw some energy buy signals for individual stocks yesterday, financials heading down with the US market. We’re also seeing a weakness in the gold sector, of course, and global mining or the base metals all were down yesterday making new lows. We also saw a new low for industrials and a new low for this move for the infotech sector. You can see we’re just coming right down to the August lows. We’ll have to see if we can find some support there. Then trading right through the August lows is the real estate sector and telecoms also have traded through the August Lowe. Okay, folks, that is all for this morning’s presentation. Just a quick reminder and a prod. If you’re short the market right now or you’re along the bear ETFs, please make sure you take some money off the table and lock in some profits. We don’t know when exactly the market is going to turn around or what the catalyst is going to be. I have absolutely no guarantee. There’s no crystal ball that tells us that the market is going to head sharply lower from here. You don’t need to liquidate a position.

There’s no reason to abandon a short positionposition or to abandon a long, bare ETF position. But it is important to systematically take money off the table as we go. That’s all I wanted to say this morning. Enjoy the rest of your day. Next time you’ll hear my voice, we’ll hopefully be on Thursday morning.

Stephen Whiteside
Wednesday, September 27, 2023

Stock Market Timing 09222023

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. Well, in Thursday’s trading action, not only did we get a Tesla sell signal, we also got a Meta sell signal. On Thursday, we saw a big spike in the VIX. We also saw the US dollar make a new high, and we saw all the bond yields pop yesterday. That’s probably not good for the economy and possibly not good for the stock market either. We’ll just have to wait and see. The DOW has traded back down to the August lows, unlike the S&P 500, which broke through them yesterday. Our next mathematical target is 421.88. Then the Nasdaq is holding up a little better, still trading above the August lows, unlike the semiconductors, which broke down a few days ago, the iShares for the Russell 2000, microcap stocks all well below those August lows. Then looking at the TSX, the iShares for the TSX 60 were down sharply, one of the biggest drops we’ve seen in a long time for the TSX on Thursday. We’ve got financials that rolled over. One of the biggest reasons the TSX was down sharply yesterday, energy stocks, second day of a sell signal, and then gold stocks traded down to the lower channel line but did not generate a sell signal just yet.

Next up, let’s take a look at the TSX most actives and a whole bunch of new sell signals here, including for TC Energy, which joins Canadian Natural Resources, which has been on a sell signal for over a week now. Then PowerCorp came down and generated a sell signal. Not a stock we usually see at the top of the most active list, but notice the lower high here. That’s a bear sign going forward. Cenovus, a second day of a sell signal for Cenovus . TD Bank came down hard back on a sell signal. Lundin Mining has been on a sell signal all week. Then we’ve got Suncor back on a sell signal as of Thursday’s close. Then Bank of Nova Scotia came down hard yesterday back on a sell signal. We’ve got Manulife Financial back on a sell signal. I was talking about how well the insurance companies have done over the past month, and that has come to an end as of Thursday’s close. Pembina Pipeline down hard yesterday. It looks like it came down a lot, but it’s only 1.82 %. It’s just the way this particular stock trades that makes it look like it was a huge move down, but in percentage terms, not too bad.

Unlike Air Canada, which was down another 2.34 %, so Air Canada has been on a sell signal since the middle of July. Let’s finish off this morning’s presentation, taking a look at the most actively traded US stocks from Thursday’s trading action, starting with Tesla. Tesla back on a sell signal as of Thursday’s close, joining Palantir, which traded down to the August lows yesterday. Then we had a big gap down for Amazon, which has now filled the open gap from early August, and at the same time creating a new gap that we’ll have to deal with on the way back up. Apple moved lower yesterday, still on a sell signal here, trading slightly higher in the premarket this morning. Then a new low for Advanced Micro Devices and a very bearish chart. Since we peaked back in June, we’ve made a series of lower highs. And so that is, of course, a very bearish chart pattern. NIO has been on a sell signal since early August. No change there. A fairly quiet day for Intel yesterday compared to a lot of other stocks. Nvidia made a new low for this move, still holding on to the August lows.

If those break, then 375 would be our next target. Then 375 would take us down to the top of an open gap, and the bottom of that gap is down here, the 3.12.50 area. That would be quite a move down for not only NVIDIA, butfor the overall stock market, if that were to happen. Ford is back on a sell signal as of Thursday’s close. And then one of the DAO components, Cisco, gapping sharply lower yesterday. And of course, we filled a gap yesterday so that is no longer in play and we can continue to move lower from here on Friday. Then American Airlines, just like Air Canada, has had a rough couple of months. This sell signal started back in July. And then last up, we’re looking at Meta. Meta is back on a sell signal, joining the rest of its big cap tech stock brothers. And we’re all back on the sell signal as of Thursday’s close. Okay, folks, that is all for this morning’s presentation. Have a great day. Next time you’ll hear my voice is on Monday morning.

Stephen Whiteside
Friday, September 22, 2023

Stock Market Timing 09212023

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

Good morning, everyone, and welcome to Thursday morning. It’s Stephen Whiteside here from theuptrend.com. Well, the futures are trading lower this morning and markets are down around the world. We are expecting some selling at the open on Thursday morning. Now, the VIX popped yesterday. It had a wild day. It traded down to the lower channel line and then closed above the previous day’s high, giving us a buy signal. That, of course, is not good for the stock market going forward. Now, gold popped yesterday, but unfortunately, while it was up over $13 yesterday, it’s down over $24 in the premarket. And that’s also true for silver. Now, gold came into yesterday on a buy signal, unlike silver, which ended the day on a buy signal. And of course, if you’re going to trade silver, you’re going to ignore that buy signal and wait for the next close above the upper channel line based on what we’re seeing in the premarket this morning. Now, sticking with commodities, we saw crude oil pull back yesterday. It is down again in the premarket this morning. So looking at the USO, we need a close below 79.08 on Thursday to give us a sell signal.

That would join gasoline, which ended Wednesday on a sell signal. And we’ve got natural gas sitting right on the lower channel line. So any lower close today would generate a sell signal for natural gas. Looking at the major stock market indices, we’ve got the S&P 500 and the Nasdaq 100 both making new lows for this move, joining the semiconductors, which also made a new low for this move. And as we mentioned earlier, the semiconductors have broken down below the August lows. Looking at the iShares for the TSX60, we’re back on a cell signal as of Wednesday’s close. So that was a quick up and down move. And then looking at what’s really been working lately, and that’s the insurance sector. And that is true on both sides of the border. Whether you’re looking at the Great West Life or Manulife or Sun Life, they’re all still doing very well. And then looking at AIG on New York. Then we’ve got Chubb, then MetLife, all examples of insurance companies doing well at the moment. So this is certainly not the time and place to be buying insurance stocks. If you’ve been trading them higher, of course, you want to make sure you’ve locked in some profits because it looks like we’re probably coming to the end of this move for the insurance sector.

What didn’t work yesterday? Well, on the TSX-60, the big loser was Shopify. On the TSX, it was Newvy. On the Dow 30 and the Nasdaq-100, it was Intel. Then on the Nasdaq-100 right behind Intel, we had Google back on a sell signal as of Thursday’s close. The big loser on the S&P 500 was Zebra Technologies. Let’s finish off this morning’s presentation, taking a look at some of those big cap tech stocks we’ve been following. Apple had a big reversal day on Wednesday. It is trading lower in the premarket this morning, so no change in trend there. No change in trend for Microsoft. The big down day on Wednesday. Then looking at NVIDIA, new closing low for this move for nVidIA, we’re not too far away from retesting the August low. Then we’ve got to Meta still on a buy signal. That would change on Thursday with a close below 298.68. And then last up, we’re looking at Tesla. Tesla is still on a buy signal. That would change on Thursday with a close below 260.44, and we are trading below that level in the premarket this morning. Okay, folks, that is all for this morning’s presentation.

So far, the market looks like it wants to do some selling at the open on Thursday morning, but we do have some economic numbers coming out at 8:30, including jobless claims, which could certainly change the direction of the market before it opens at 9:30. Now have a great Thursday, folks. Next time you’re going to hear my voice is on Friday morning.

Stephen Whiteside
Thursday, September 21, 2023

Stock Market Timing 09202023

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

Hello, everyone, and welcome to Wednesday morning. It’s Stephen Whiteside here from theuptrend.com. In the premarket this morning, stock index futures are fairly quiet. They’re slightly above fair value. Commodities are mixed. Not a lot of movements in the premarket this morning. We are waiting for the Fed announcement this afternoon, and that’s when we expect volatility to expand dramatically. Now, we are focused on Amazon generating a sell signal. It’s just another one of the big cap tech stocks that are starting to roll over. Of course, this all started a couple of weeks ago when Apple fell out of the sky. Apple is still on a sell signal. That would change on Wednesday with a close above $180.02. So far in the premarket, Apple is down about 50 cents last time I checked. So certainly, there’s no direction in the premarket this morning. Now, Apple is part of the Dow 30. The Dow rolled over yesterday, and it is back on a sell signal. So if we look at the rest of the tech stocks in the DOW, you can see that Salesforce coming into today already on a sell signal. That is also true for Cisco.

Ibm has been on a sell signal for a few days now. Then we’ve got Intel joining the party with Amazon rolling over on Tuesday. Now looking at some of the other big tech stocks, we’ve got Microsoft on a sell signal right now. We’ve got Netflix on a sell signal. We’ve got NVIDIA still on a sell signal, having an inside day on Tuesday. Then we talked about Shopify yesterday rolling over. It continued to move lower and that put some downward pressure on the TSX on Tuesday. Now we still have a handful of big cap tech stocks that are still on buy signals right now, including Alphabet, which made a new high on Monday and pulled back slightly on Tuesday. Now we do have Meta and Tesla both trading in the channel right now. If we generate sell signals this week, that would give us a lower high for both of those stocks, which, of course, is a bearish chart pattern. You’ll notice on Tesla, we’ve got an open gap there that is currently acting as support, and we’ll have to see if that continues to hold. Now, yesterday, I talked about the tail of two markets. We’ve got the Canadian market trying to punch through summer highs while the US market is trying to hold summer lows.

Looking at the iShares for the TSX-60, it looks like resistance at 31.25 is held us in check. Now we’re coming down sharply. We’ve filled that open gap and it looks like we want to continue to go lower here. We need to close on Wednesday below $30.67 for the iShares for the TSX60. Now last week when this popped, I said I wasn’t that confident in this move because the market was being led higher by very defensive sectors, which don’t usually lead the market anywhere. But that’s what happened last week. And yesterday, it wasn’t just tech stocks that pulled us back. We saw gold stocks trade back in the channel and we saw energy stocks trade down to the lower channel line. In both cases, we’re still on buy signals coming into Wednesday’s trading action, but that could certainly change on Wednesday. Now, looking at the US market, the Dow rolled over yesterday. It is back on a sell signal as of Tuesday’s close. It looks like we put in a lower high last week and we’re a day or two away from retesting the summer lows, unlike the S&P 500 or the Nasdaq 100, which are both already on sell signals and certainly well above their August lows.

Now, when you look at the rest of the US market, it doesn’t look as pretty. We’ve got the iShares for the Russell 2000 dipping below the August lows. That is no longer an important level of support. You can see the August lows broke a while ago for the microcap sector, Semiconductors, and the DOW Transports. Now, Wednesday is going to be all about bond yields. We saw bond yields move up on Tuesday for the five-year, and the 10 year, and the 30 year. Of course, the 30 year holding back a bit. It’s the shorter term yields that are moving up faster than the longer term yields at the moment. It’ll be interesting to see how the market reacts to the Fed meeting this afternoon. Let’s finish off looking at commodities. We’ve got copper back below the lower channel line. We traded through the upper channel line for two days but did not catch a buy signal. Unlike the price of gold, which is still on a buy signal, so it ended the day just up 30 cents, so not a lot of enthusiasm for gold right now. Silver traded up to the upper channel line before closing lower on the day.

On Wednesday, we’re looking for a close above 23.70 to give us a buy signal for silver. Then Crudol made a new high yesterday before reversing, and it reversed off our next price target of 90.63, got as high as 90.75 before pulling back. We’re still on a buy signal here, not concerned about a sell signal on Wednesday. Then looking at natural gas, we’re looking for a close on Wednesday above $3.05. You can see that 293 is acting as support. Looks like we’re putting in a nice base there, and wouldn’t be surprised if we could get things started and take another run at the summer highs over the next few weeks. Let’s finish off looking at the VIX. And the VIX traded through the Upper channel line for the second day in a row, but did not close above it. So on Wednesday, we’re looking for a close above $14.59 to give us a buy signal. We’re finding support here just above the 12.50 level, and we’ve got resistance at 18.75. In the month of August, we did trade through the top of the fly paper channel, but we didn’t break away from it. We found resistance at the 200-day moving average.

If the market is going to have a major correction in September or October, we need the VIX to start trading above that 200-day moving average, and we’re not expecting that to happen on Wednesday. Okay, folks, that is all for this morning’s presentation. Stock index futures are where I left them when I started the presentation. Looking for volatility to expand dramatically after 2:30 this afternoon. Enjoy the rest of your day. Next time you’ll hear my voice is on Thursday morning.

Stephen Whiteside
Wednesday, September 20, 2023

Stock Market Timing 09192023

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, stock index futures are slightly above fair value. It should be a fairly quiet day. This is the first day of the two day Fed meeting and we expect volatility to expand dramatically after 02:00 P.m.

Wednesday afternoon. Now, the VIX traded up to the upper channel line yesterday, but closed near the low of the day. Looking for a close on Tuesday above $14.61. The Dow closed up by a penny yesterday and still on a buy signal here, while the S&P 500 and the Nasdaq 100 are still on sell signals. Now, this really is a tale of two markets as the US market is trying to hold on to the summer lows.

We can see that in the Ishares for the Russell 2000, but that is not true for the Ishares for the micro cap sector that has already broken through the summer lows. Trying to find support back at the lows from May. Then looking at semiconductors, you can see we’re barely holding on to the August lows here. That is also true for the regional banks and banks themselves, while the retail stocks are starting to slip below the August lows. Then looking at the Canadian market, we’re trying to punch through the summer highs and so far we’re stuck at resistance.

That’s also true for the TSX 60. So we saw pullbacks in both of those yesterday. We saw a pullback in mid cap and small cap stocks. And as you can easily see here, we put in a lower high, a lower high. And now we’re going to see if we start to put in lower lows.

That would be bearish. And the venture exchange, which is on a buy signal since last Thursday, was up slightly on the day on Monday. Then looking at what didn’t work yesterday on the TSX, it was the infotech sector rolled over and it was led lower by Shopify. So Shopify had a nice pop. We were buyers there.

We sold half our position here, another half here, and now we’re left with the remaining position and we’re going to get kicked out today at the open and we’re still going to get kicked out with a profit on this trade. Next up, let’s take a look at commodity prices. And we’ve got one trend change from Monday’s trading action. The USO made a new high yesterday. We saw gasoline pull back for the second day in a row.

Still on a buy signal here. We had natural gas move up yesterday. Still on a buy signal. No change there. Now we have the GLD back on a buy signal as of Monday’s close.

Joining Palladium and Platinum already on buy signals, still waiting for Silver. And you can see there’s a nice gap just above us that could hold us in check. Otherwise we’re looking for a close for the SLV above 21.41 on Tuesday to give us a buy signal. And then Copper pulled back yesterday. Copper is still on a sell signal.

No change there. Moving on, let’s take a look at the TSX most active, starting with the TC Energy, which had a bearish reversal day yesterday. Then we had an inside day for Suncor. Then Canadian Natural Resources. Still on a sell signal here.

Looking for a close on Tuesday above 87.61. Then looking at manual. Life Manulife had an inside day. We’re stuck at Resistance at 26.17. Our next target is 26.56.

And if you go to the weekly chart, you can see that that is also a weekly target. And that is where we peaked back at the start of 2023. Then looking at the TD Bank, a small pullback there, trying to get over 84.38. Then looking at CIBC, we’re trying to break out above the high from late August. So far, we’ve been unable to do that.

Then Denison Mines made a new closing high yesterday. Then Tilray had a big pullback. You’ll also see that in the US. Market. And then we’ve got Air Canada making a new low for this move on Monday.

Let’s finish off today’s presentation. Looking at the most actively traded US. Stocks, starting with Tesla. Tesla traded back into the Channel yesterday. A close below $258.08 would give us a sell signal on Tuesday.

Apple moved up yesterday. We’ve got a nice open gap there on our way to a buy signal. We are looking for a close on Tuesday above $180.39. Tilray rolled over yesterday, just like on the TSX. So we’re back on a sell signal as of Monday’s close.

Advanced Micro Devices bouncing off the August lows, closing slightly higher on the day. No change in trend. No change in trend for Nvidia, which closed up $0.66 yesterday, making a big reversal day, but not closing above the previous day’s high. Then looking at Ford back in the Channel, looking for a close below $12.20 on Tuesday to give us a sell signal. For Amazon,

we would need a close below 138.34. Then we’ve got Marathon closing just down $0.01 on the day. No change in trend there. Then Palantir still treading water here. Looking for a close below $15.11 on Tuesday.

And then a big reversal. Big loser on the Dow on Monday was American Express. Looking for a close on Tuesday below 158.61. Then we saw a new low for Boeing. And we saw a new low for this move for Home Depot.

Starting to break down below the August lows. Okay, folks, that is all for this morning’s presentation. Not looking for a lot of excitement on Tuesday. Of course, the excitement will all begin after 02:00 P.m. Wednesday afternoon.

Have a great day. Next time you’ll hear my voice is on Wednesday morning.

Stephen Whiteside
Tuesday, September 19, 2023

Stock Market Trends- 09182023

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

Good morning, everyone. Welcome to Monday morning. It’s Stephen Whiteside here from theuptrend.com. Well, last week was an interesting week. It turned out to be an inside week of the previous week, which was also an inside week. So two inside weeks in a row for the S&P 500 and for the Nasdaq 100. Price activity contracted last week and we’re looking for a breakout of not last week’s high or low or the previous weeks, but we have to go back three weeks and we’re looking for a breakout or a breakdown of that bar to tell us which way the market wants to go next. An inside week, just like an inside day is a pause. It’s a time of indecision where the market really doesn’t know where it wants to go next. It’s looking for a clue and that clue may come this week from the Fed, which meets on Tuesday. Then, of course, the announcement comes out on Wednesday. Now, the commodities, on the other hand, helped the TSX move up. It was up five days in a row last week and traded right back up to previous resistance. You can see that this level has held us in check all year.

We were able to trade a slightly above it back in the start of the year and we’re going to be looking to see if we can take out the early 2023 highs and that would open up a move up to 21,250 on the TSX. Looking at the VIX, it was down slightly on the week. It’s still on a weekly sell signal that is supportive for the market going higher on a long term basis. That would change this coming Friday if the VIX were to close above $16.70. Now, if you’re trading the market on Monday, we’re looking for the VIX to close above $14.67. It made a new low on Friday, then it reversed and closed higher on the day back in the channel. We did see some selling in the U. S. Markets on Friday. Now, if the stock market is going to have a major correction in September or October, as these are seasonally weak times for the stock market historically. We’re going to need to see the VIX start breaking out above the 200 day moving average. That’s what held us in check back in August. So far, we’re nowhere near that level.

We’re still trading below the 100 and 50-day moving averages. The options market is not overly concerned about the stock market going forward at this time. Now, what might not be good for the stock market right now is the US dollar index continues to move higher. We also saw bond yields move up last week. That open gap is not holding us in check any longer. We are now trading above it. The trend for bond yields and interest rates is still pointing higher. Now everybody’s expecting the Fed to pause. I’m not sure they should given the fact that inflation is still out of control for a lot of people. Of course, their models do not directly reflect how the consumers have to deal with inflation. But we saw crude oil continue to move up last week up another three and nearly a half %, 3.45 % on the week. We’re continuing to move higher on crude oil. Now, the price of gold also moved up last week, just $3.50, but that was enough to help the Canadian stock market. We also saw the price of silver, which reversed on the week, had a bullish reversal week and closed higher on the week.

So both of those commodities helped the Canadian stock market moved higher. Now, speaking of inflation, we saw cattle, live cattle make a new high last week. We also saw a new high for cocoa. We also saw a new high for frozen orange juice and for the price of sugar. So it’s pretty obvious that some commodity traders haven’t got the memo from the Fed to help fight inflation. Now, on the other hand, we traders have been very supportive of the Fed and we made a new loaf for wheat on Friday. Remember when Russia invaded Ukraine, the price of wheat popped dramatically as the world was concerned about the global wheat market being disrupted by the war in Ukraine. All of those fears have seemed to have dissipated and not really an issue at the moment. Now looking at the seasonality chart for the S&P 500, you can see that we historically peak in the middle of the month and sell off going into the end of the month. Did that start on Friday? Well, only time will tell. This week may start out quiet, but it may end rather violently, either to the upside or to the downside, depending on what the Fed does on Wednesday.

Now what didn’t work last week? Well, in the US market, it was home builders back on a weekly sell signal. We had Biotechs down last week, so they’ve been on a sell signal for a few months now. Semiconductors have been on a sell signal for over a month. Then we’ve got industrials on the second week of a sell signal for industrials. What worked? Well, in the Canadian market, it was base metals were up nicely followed by marijuana stocks. Marijuana stocks is not a big component of the Canadian stock market. And then we’ve got utilities up nicely, almost trading up to the upper channel line. So we don’t have far to go to generate a weekly buy signal for utilities. And then we’ve got information technology, which was up just under one % on the week. Now looking at the energy sector, energy stocks on this side of the border moved up last week. We’re stuck here, trapped, holding on to the 17.19 level. We’re trying to break out above the high from early 2022. That’s holding us in check right now. If we can start breaking out above that high, then 18.75 comes into play for the XEG.

Now looking at the XLE in New York, we did make a new high for this move last week before pulling back, just four cents. We’re trying to break through the 93.75 level, which is held us in check for in 2022. We got as high as 93.69. So getting pretty close to that 93.75 level, if we can take that out, then $100 does come into play or resistance could do what it’s supposed to do, which is hold us in check. This might be the time and place where energy stocks start to top out. Let’s finish off today’s presentation looking at some numbers for Monday. We’ve already looked at the VIX. The iShares for the TSX is up five days in a row last week. We need a close blow of $30.56 on Monday. Not expecting that to happen, of course, and that lower channel is going to continue to move higher daily. Well, where did we end the day on Friday? Well, our next price target was $31.25, and we closed at $31.25. Now, if we can move higher from here, then 31.64 is our next price target. Now, the S&P 500 ended Friday on a sell signal.

And so we’re coming into Monday with a new sell signal for the S&P 500. Things would change on Monday with a close above $448.51 for the SPY. In the premarket this morning, we are trading lower. Looking at our price targets, you can see that 453.13 held us in check in the month of August, and now we’re going to look to see if 437.50 can act as support in the month of September. Then looking at the Nasdaq-100, the Triple Qs ended Friday on a sell signal looking for a close on Monday above 376.23. Not expecting that to happen from what we’re seeing in the premarket this morning. Now we’re starting to move down from 375. We haven’t really broken away from it just yet. The high on Friday was 376.32, so we haven’t broken away. If we start to break down below the previous week’s low, then 359.38 would be our next target to the downside for the triple queues. Then looking at semiconductor, semiconductors are starting to close just below the $200 level. If we take out the August lows, then 187.50 is our next price target for the semiconductor ETF, which is the XSD.

Okay, folks, that is all for this morning’s presentation, expecting to see a little selling at the open at the same time. Commodity prices are moving up slightly on Monday morning. Have a great day. Next time you’ll hear my voice is on Tuesday morning.

Stephen Whiteside
Monday, September 18, 2023

Stock Market Trends- 09152023

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

Hello, everyone, and welcome to Friday morning. It’s Stephen Whiteside here from theuptrend.com. In the premarket this morning, stock index futures and commodities are trading above fair value. So far, it looks like we’re going to see some buying at the open at 9:30 Friday morning. Now, today is a quadruple witching day, which means the stock index futures and options expire today for the month of September. This happens once a quarter where everything lines up on the same day. It used to be a huge event back in the 90s, but since a lot of traders got caught on the wrong side of this day, they’ve learned to unwind their positions ahead of today’s event. It is happening. It is an event, but it’s not as big an event as it used to be back in the 90s. Now, so far this week, we are still trading within last week’s range for the S&P 500 and for the NASDAQ. That means that if we end this week within the range, that this will be the second inside week in a row. Overall price action has been contracting over the past couple of weeks, which when volatility contracts, and we’re talking about price volatility, not options pricing, but when price volatility contracts, it will expand at some point and we’ll have to wait and see whether it expands to the upside or to the downside.

Now looking at options pricing, we can see the VIX has made a new low yesterday and the upper channel line has also moved lower. And so on Friday, we’re looking for a close on the VIX above $14.81 to give us a buy signal. And if that were to happen, that would be very negative for the stock market. But so far, it does not look like that’s going to happen on Friday. Now we’ve got the major US auto companies in the news this morning due to strike action. And there’s a Ford on a buy signal coming into Friday. General Motors is also on a buy signal. As you can see, the market wants Ford more than they want GM right now. Now, compare those two charts to their Japanese counterparts, whether we’re looking at Honda or Toyota, it’s a totally different world. Then, of course, we’ve got Tesla. Tesla made a new closing high for this move on Thursday. Now the world is still focused on inflation and crude oil is still not helping with crude oil making a new high once again on Thursday. That helped energy stocks move up on both sides of the border.

On the TSX, it was a Tamarack. On the US, Diamondback Energy had a great day making a new high for this move. Looking at the iShares for the TSX 60, they popped yesterday and ran right up and made a new closing high for this move. 31.25, of course, is resistance for the iShares for the TSX60. Now, the big move that we saw yesterday was led by real estate, which is rather unusual. That doesn’t happen very often, followed by industrial materials, and then utilities. Utilities, of course, is a defensive play. Then we see energy down the bottom there. Everything was up yesterday, which is also something unusual, but that’s exactly what happened. There’s real estate popping. Not only was it a big day, but the sector is back on a buy signal, being led higher on Thursday by Interrent, which actually traded out and closed above the July highs, which is a bullish sign. Then looking at industrial, which also popped and is also back on a buy signal, and that sector was led higher by Ballard Power. Then in the materials world, it was Mag Silver was the big winner on Thursday. Now, what happened yesterday to the commodity stocks didn’t really reflect what the commodities were actually doing.

Their silver making a new low yesterday before coming back up to the $23 level. You can see that gold made a new low for this move yesterday before coming back and closing slightly higher on the day. It is trading higher in the premarket this morning. Now looking at the gold and silver stocks, the GDX is back on a buy signal as of Thursday’s close, while the XGD is still waiting for close above $17.08. Then looking at the SIL, we’re looking for a close on Friday above $25.81. Then looking at the DAO, it is back on a buy signal as of Thursday’s close, joining the S&P 500 and the Nasdaq still on buy signals. Both are still waiting to take out the recent highs. And then looking at the semiconductors, chips traded back into the channel on Thursday. There’s an open gap to get through. And then we’re looking for a close above 207.64 on Friday to give us a buy signal. Now, Apple still on a sell signal, no change in trend there, and then no change in trend for NVIDIA, still on a sell signal closing slightly higher on Thursday. Now, what worked in the US?

Well, just like in Canada, it was real estate followed by utilities and then materials. Those were the big winners. For real estate, we are back on a buy signal as of Thursday’s close. The big winner was Boston Properties, still not on a buy signal. We need to close above 66:65 on Friday to give us a buy signal there. Then looking at utilities, what we’re on our fourth day of a buy signal for utilities and the big winner on Thursday was Consolidated Edison. Then looking at materials, we are back on a buy signal as of Thursday’s close. The big winner there was Mosaic, which is also back on a buy signal as of Thursday’s close. Okay, folks, that’s all for this morning’s presentation. Have a great day. Have a great weekend. I will not be doing a presentation over the weekend. Next time you’ll hear my voice is on Monday morning.

Stephen Whiteside
Friday, September 15, 2023