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
