Stephen Whiteside from TheUpTrend.com presents a comprehensive analysis of the stock market on this Tuesday morning. Pre-market trading shows major stock index futures and commodities moving lower, with only Bitcoin trading higher. Stephen highlights the volatility anticipated during “Fed week,” with economic data releases at 8:30 and 9:15 expected to impact market direction. Key insights include the VIX signaling increased fear and ongoing downward trends in the Dow, Transports, and Utilities sectors, led by declines in major companies like United Healthcare, Chevron, and Verizon.
He also reviews the bond and currency markets, with minimal movement in bonds but a continued sell signal for the Euro and Canadian Dollar. Bitcoin’s strength is emphasized as it breaks new highs, along with top-performing ETFs and tech stocks such as Tesla and Broadcom. Conversely, oil, gas exploration companies, and US marijuana stocks struggled. Stephen concludes with insights into individual stocks, emphasizing potential turning points for Intel and Lucid while celebrating gains in BlackBerry and Bitcoin.
Stephen Whiteside
TheUpTrend.com
Tuesday, December 17, 2024
