In today’s morning market outlook, Stephen Whiteside from TheUpTrend.com highlights a positive premarket environment, with stock index futures, commodities, and Bitcoin trading above fair value. Key economic data releases include international trade at 8:30 AM, which could shift the market direction, followed by the JOLTS report and ISM data at 10 AM. Monday saw significant activity in the chip sector, with Nvidia hitting a price target of $150, while Micron led gains on the Nasdaq and S&P 500 but remains within a broader trading range. Bitcoin is back on a buy signal, signaling renewed bullish sentiment, while Canadian gold stocks and US real estate stocks lagged in performance.
The major North American index ETFs saw mixed movements, with technology stocks driving gains for the Nasdaq, while financials and consumer staples remained under pressure. Lucid was featured in a trading tutorial, showcasing a step-by-step approach to executing a trading plan and managing profit targets. Stephen emphasized the importance of timing and following trends in the market. He concluded with a reminder to visit TheUpTrend.com for resources on mastering stock market timing.
Stephen Whiteside
TheUpTrend.com
Tuesday, January 7, 2025
