In today’s market update, Stephen Whiteside from TheUpTrend.com discusses pre-market conditions, highlighting a quiet start with slight dips in stock index futures and a rise in commodities. Key stock movements include Tesla approaching $400 resistance, Palantir targeting $87.50, and Super Micro attempting to fill an open gap. The VIX remains supportive for higher stock prices unless it surpasses 14.80. Bitcoin dips below $100,000, with potential sell signals if it closes below $94,503. Meanwhile, major index ETFs such as the iShares TSX 60 and Vanguard Canada hit new highs.
Commodity ETFs remain mixed, with copper showing strength, gold and silver maintaining trends, but energy stocks continuing to decline. Key performances include Canadian and U.S. energy stocks, a high for Royal Bank, and trends in NVIDIA, Lucid, and Rigetti. Whiteside underscores the importance of market timing and trend-following for successful investing and encourages viewers to explore resources at TheUpTrend.com for enhanced stock market insights.
Stephen Whiteside
TheUpTrend.com
Monday, December 9, 2024
