TheUpTrend.com reviews the premarket activity where stock index futures are down, while commodities are mixed with crude oil declining and gold rising. He highlights that no major economic data is expected today, except for energy inventories later on. The marijuana sector saw a significant uptick on Tuesday, while stocks like McDonald’s and Starbucks are down premarket. Several major indices, including the Dow, S&P 500, and Nasdaq, are on the verge of new sell signals, with some sectors like industrials and retail already ending on sell signals.
Stephen also provides a detailed analysis of individual stocks, including Apple, Amazon, and Alphabet, focusing on daily price targets. He emphasizes the importance of having predefined price targets and locking in profits at critical points. Additionally, he highlights a variety of stocks that are generating early warning signals, cautioning traders to prepare for potential sell-offs. The update concludes with a brief discussion on Tesla’s upcoming earnings and potential price movements.
Stephen Whiteside
TheUpTrend.com
Wednesday, October 23, 2024