In today’s market update, Stephen Whiteside of TheUpTrend.com discusses the quiet pre-market conditions ahead of U.S. jobless claims, alongside major movements in indices, ETFs, and cryptocurrencies. Key highlights include Bitcoin trading above $100,000 and Ethereum hitting a new high. Notable targets for indices such as the TSX, NASDAQ, and S&P 500 were also outlined, with Canadian Infotech leading gains in the market.
Additionally, he reviews Canadian banking stocks, with most still on buy signals but showing signs of weakness. Stocks such as Apple, Amazon, and Microsoft approach their next price targets, while Tesla and Nvidia struggle with key resistance levels. Whiteside concludes by emphasizing the potential impact of jobless claims on market direction later today.
Stephen Whiteside
TheUpTrend.com
Thursday, December 5, 2024
