This morning, Stephen Whiteside from TheUpTrend.com provides a market overview where stock index futures and commodities are trading below fair value, likely reacting to European news. Notable movements include Alibaba’s recent gains, Tesla’s potential to break July highs, and weakness in North American auto stocks like Ford and General Motors. He highlights that the VIX remains on a sell signal, which is positive for stocks.
Looking at major ETFs, Canadian and U.S. markets remain on buy signals, with semiconductors and financials making key moves. Natural gas surged to $2.93, hitting price targets, while crude oil continues to struggle despite a buy signal. Whiteside concludes with commodity insights, noting small pullbacks in copper and precious metals, while energy remains volatile.
Stephen Whiteside
TheUpTrend.com
Monday, September 30, 2024
