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Today is Fed day, and stock index futures are trading above fair value in the pre-market. Crude oil inventories will be released later this morning, which could influence energy stocks, while the main focus remains on the Federal Reserve’s interest rate decision and subsequent press conference. Market sentiment has shifted from expecting a 25 basis point cut to a 50 basis point cut, but Fed days typically cause volatility, making it risky to bet on the market’s immediate direction.

The stock market is currently overbought, with the VIX elevated, indicating heightened market uncertainty. Major indices such as the S&P 500, Nasdaq, and Russell 2000 are approaching highs, while bond markets, especially junk bonds, continue to show bullishness. Canadian and U.S. financial stocks are performing well, with several sectors making new highs. However, this volatile period means caution is warranted, especially ahead of the Fed’s announcements.

Stephen Whiteside
TheUpTrend.com
Wednesday, September 18, 2024

In Tuesday’s premarket update, Stephen Whiteside highlights key market movements ahead of retail sales data and the Federal Reserve’s announcement. Intel is up while the broader chip sector, including ARM and Micron, is down. Apple, Nvidia, and Tesla saw minor pullbacks, with Tesla nearing a sell signal.

Whiteside discusses bond market trends, noting a significant shift in rate cut expectations, as well as all-time highs in the Dow and TSX 60. Consumer staples, real estate, and utilities hit new highs, while tech stocks struggled. Energy and mining stocks are showing signs of a potential upward trend.

Stephen Whiteside
TheUpTrend.com
Tuesday, September 17, 2024

In today’s pre-market update, Stephen Whiteside discusses the mixed signals from Dow and Nasdaq futures, along with the upcoming Fed meeting, which will likely determine market volatility. The bond market shows strength, with bond yields moving lower, while key commodities like gold, silver, and copper are all gaining ground. Energy markets also saw movements, with potential buy signals for crude oil and gasoline.

The S&P 500 is approaching all-time highs, and the Nasdaq is recovering despite lingering uncertainty. The Canadian market is also strong, with ETFs and financials making new highs. Whiteside also reviews key stocks like Nvidia, Tesla, and Palantir, all of which remain on buy signals, while some stocks like Intel and American Airlines are still trending downward.

Stephen Whiteside
TheUpTrend.com
Monday, September 16, 2024

This morning’s premarket shows stock futures and commodities trading higher, with gold leading the market. Technology stocks are gaining traction, with Nasdaq on a buy signal, joined by the equal-weighted and next-gen Nasdaq indices. Financial stocks, however, remain weak, with notable declines in JPMorgan, Goldman Sachs, and Citigroup. The exchanges (CBOE, CME, ICe, Nasdaq, TSX) are performing well.

In Canada, the TSX hit new highs, with a strong day for gold mining stocks like Kinross, Barrick, and First Quantum. Commodities saw gains, with crude oil and natural gas continuing to rise, and silver and platinum on buy signals. Bitcoin and Ethereum also closed higher, with no significant trend changes.

Stephen Whiteside
TheUpTrend.com
Friday, September 13, 2024

In Thursday’s pre-market update, Stephen Whiteside of TheUpTrend.com notes that stock index futures and commodities are trading above fair value, but upcoming economic data may shift market direction. Wednesday saw a huge surge in volatility, with the S&P 500 approaching a new daily buy signal as key price targets were nearly hit. Notably, the Nasdaq 100 also closed just below its price target.

Key sectors driving market movement include semiconductors, with strong performances from Nvidia and Broadcom. The Magnificent Seven ETF is back on a buy signal, though not all underlying stocks are. Canadian markets have seen positive signals in both the tech and consumer discretionary sectors, led by Dollarama and Canadian Tire.

Stephen Whiteside
TheUpTrend.com
Thursday, September 12, 2024

In the premarket on Wednesday, stock index futures are trading lower as the market awaits key CPI data. Energy inventories are also in focus after crude oil hit a new low. The market was volatile on Tuesday, with large financial stocks like JPMorgan and Goldman Sachs dragging the market down. However, real estate and tech stocks helped the market recover by the close.

While the S&P 500’s VIX remains stable, the Russell 2000 shows weakness, indicating a risk-off trade in mid and small-cap stocks. Energy stocks continued their downward trend, while gold and silver showed slight gains. Cryptocurrencies, including Bitcoin and Ethereum, were up on Tuesday but down in the premarket on Wednesday. Bank stocks held strong despite the broader market’s volatility.

Stephen Whiteside
TheUpTrend.com
Wednesday, September 11, 2024

In this morning’s market update, Stephen Whiteside discusses premarket activity, highlighting Oracle’s significant gain of over $12, which will help sell positions over $150. He also explains that while Monday seemed like a positive day, most major indexes, including the Dow, S&P 500, Nasdaq, and TSX, experienced an inside day—a pause in market activity. The VIX showed indecision, and a close below 17.04 today would be bullish for short-term traders.

Commodities showed mixed signals, with crude oil and gasoline having inside days, while natural gas pulled back. Nvidia, Palantir, and Tesla had inside days, while Nio continued to rise. In the TSX market, energy stocks underperformed, while financials like Manulife and TD Bank reached new highs. Stephen urges caution despite Monday’s gains, awaiting a break above Friday’s high for new market signals.

Stephen Whiteside
TheUpTrend.com
Tuesday, September 10, 2024

In today’s market update, Stephen Whiteside of TheUpTrend.com discusses the current premarket conditions, noting that stock index futures and commodities are trading above fair value. Palantir is set to join the S&P 500 and may end the day on a buy signal. Other stocks like Boeing are showing minor upward movement but not enough to change their overall trends. Key sectors like energy and technology remain under pressure, with stocks such as Nvidia, Tesla, and Broadcom struggling in the premarket.

Whiteside also highlights trends in commodities, where crude oil and gasoline hit new lows, while natural gas remains on a buy signal. Bitcoin and Ethereum are trading up slightly, but not enough to shift their market direction. While major stock indices are up in the premarket, there is no significant trend reversal yet. Overall, it’s a day of bargain hunting rather than major market shifts.

Stephen Whiteside
TheUpTrend.com
Monday, September 9, 2024

[00:00:00]: Introduction and Overview
[00:00:32]: Market Sentiment and Seasonality
[00:01:05]: Nasdaq Analysis
[00:02:10]: ETF Signals Overview
[00:03:10]: Apple Stock Analysis
[00:04:22]: Amazon Stock Analysis
[00:04:41]: Alphabet Stock Analysis
[00:05:02]: Nvidia Stock Analysis
[00:05:26]: Shopify Stock Analysis
[00:06:13]: Tesla Stock Analysis and Conclusion

In today’s update, Stephen Whiteside of TheUpTrend.com analyzes the current state of the Magnificent Seven stocks and the broader market conditions. He begins by noting the rising fear in the market as indicated by the VIX’s daily and weekly buy signals. Whiteside discusses key targets and resistance levels for the Nasdaq 100, emphasizing that the market has been long-term bearish but could see an upward move toward the end of the year.

Whiteside delves into the performance of individual stocks like Apple, Nvidia, and Tesla, highlighting critical sell signals and price targets. He emphasizes the seasonally weak period for markets in September and October and advises caution as the chip sector leads the market lower. A shift in the VIX could signal a change in market tone.

Stephen Whiteside
TheUpTrend.com
Saturday, September 7, 2024

In the premarket on Friday, stock index futures were below fair value, with the Nasdaq leading the decline. Traders were awaiting the release of key economic data, including the non-farm payrolls report, which could shift market sentiment. Broadcom remained on a sell signal after Thursday’s close, while the VIX indicators for the S&P 500, Nasdaq, and Russell 2000 continued to signal negative sentiment for stocks. Key U.S. indices like the TSX 60, Dow Diamonds, and S&P 500 also closed Thursday on sell signals. Financials in the U.S. were led lower by the banks, while Canadian financials posted a contrasting positive performance.

In commodity markets, gold regained some ground without breaking its support level, while crude oil remained stable. Cryptocurrencies, including Bitcoin and Ethereum, stayed on sell signals. The report also highlighted significant stock moves, including new lows for energy stocks like Suncor and Canadian Natural Resources, and highs for Enbridge and TD Bank. Nvidia, Tesla, and other key stocks were analyzed, with Nvidia holding support above $100, while Tesla saw a brief rally before pulling back.

Stephen Whiteside
TheUpTrend.com
Friday, September 6, 2024