Market Insights: Tech Selloff, TSX Trends & Bitcoin Updates – Nov 28, 2024

In today's update, Stephen Whiteside from TheUpTrend.com discusses the market's positive reaction to recent PPI numbers and the anticipation of the CPI report. The VIX's close below the lower channel line signals higher stock prices, while the US dollar and bond yields show signs of stability. The SPY and Nasdaq 100 saw significant gains, driven by big-cap tech stocks, despite a split market with both highs and lows in the US indices. Whiteside also highlights key movements in the Canadian market, with notable performances from Alamos Gold, Cineplex, and Fortis. He reviews several US and Canadian stocks, including Nvidia, Starbucks, and Shopify, noting new buy signals and resistance levels. The overall tone is cautiously optimistic, with attention on upcoming CPI data and its potential impact on market trends. Stephen Whiteside TheUpTrend.com Wednesday, August 14, 2024 https://theuptrend.com/morning-market-outlook-08142024/

14 Aug 20246min

In today's update, Stephen Whiteside from TheUpTrend.com discusses the stock market's positive sentiment in the pre-market, indicating no major negative events over the weekend. He highlights a week filled with significant economic reports, including PPI, CPI, jobless claims, and retail sales, which could lead to increased market volatility. The VIX's decline suggests potential for higher stock prices if certain levels are met, and Whiteside provides key metrics for major indices and sectors like the Dow, SPY, QQQ, and Canadian markets, alongside commodity updates. Whiteside also touches on the performance of various sectors, noting that while US and Canadian financials held up, sectors like consumer discretionary, oil and gas, and technology struggled. He ends with a look at commodities, where crude oil, gasoline, and natural gas are back on buy signals, while metals like copper remain weak, reflecting broader economic concerns. Stephen Whiteside TheUpTrend.com Monday, August 12, 2024 https://theuptrend.com/morning-market-outlook-08122024/

12 Aug 20247min

In today's video, Stephen Whiteside from TheUpTrend.com provides an analysis of the Dow 30 stocks, noting that the market has seen some volatility following a significant spike in the VIX earlier in the week. As of Friday's close, eight Dow 30 stocks are on buy signals, with two new additions from Caterpillar and Salesforce. However, the buy signals for these stocks are weak, and many other Dow components remain on sell signals, reflecting cautious sentiment in the market. Stephen also highlights key levels to watch for various stocks, including IBM, Coca-Cola, and McDonald's, while emphasizing the importance of the VIX closing below 19.73 to indicate renewed bullishness among options traders. The video also discusses specific stock movements, such as IBM’s pullback, Nike’s recent buy signal, and the weak buy signals from Caterpillar and Salesforce. Stephen notes that certain stocks, like Apple, Amazon, and Boeing, are still waiting for buy signals but remain in a downtrend. He cautions viewers to be mindful of the overall market conditions and suggests taking small positions if going long on the weak buy signals. Stephen concludes by mentioning that United Healthcare generated a new sell signal on Friday and that the market needs more Dow 30 stocks to return to buy signals for a sustainable upward trend. Stephen Whiteside TheUpTrend.com Stock Market Timing Service Saturday, May 4, 2024 https://theuptrend.com/dow-30-signals-08112024/

11 Aug 20248min

In today's video, Stephen Whiteside from TheUpTrend.com provides an in-depth analysis of the US and Canadian markets, focusing on the recent inside day action. He discusses the elevated VIX and its implications for market volatility, as well as the performance of key indices like the S&P 500, Nasdaq 100, and Russell 2000. The video also covers the recent movements in bonds, including a drop in bond prices and a rise in high-yield bonds, which have contributed to market gains. Additionally, Stephen highlights the performance of commodities, noting an inside day for copper, a bullish close for gold, and a new buy signal for natural gas futures.The analysis extends to the Canadian market, where the TSX and TSX 60 had varied performances. Key sectors, including financials, energy, and infotech, are examined, with particular attention given to the bearish trends in Manulife and the positive momentum in the telecom sector. Stephen concludes by offering insights into potential trading signals and market trends to watch as the week progresses, preparing viewers for the upcoming trading sessions. https://theuptrend.com/morning-market-outlook-08092024/

9 Aug 20246min

Stephen Whiteside from TheUpTrend.com provided an analysis of the current market conditions ahead of the jobless claims report. He noted that stock index futures are mixed while commodities are trading higher. The VIX closed above the upper channel line, indicating a potential shift in market sentiment if it closes below 18.38. Whiteside discussed the SPY, highlighting that while the market is oversold, there hasn't been significant panic selling. He projected a possible decline towards the $500 level, emphasizing the importance of the 200-day moving average as a potential support level. Whiteside also reviewed various sectors, noting a bearish reversal day across major indices, including the Nasdaq 100 and Russell 2000. He mentioned that while Shopify experienced a notable gain, the overall market sentiment remains cautious, with many stocks, including Meta and Tesla, closing lower. In commodities, he indicated that crude oil, gasoline, and natural gas could generate buy signals with specific closing prices. He concluded by stating that the market's direction would likely remain uncertain until the jobless claims data is released later that morning. Stephen Whiteside TheUpTrend.com Thursday, August 8, 2024 https://theuptrend.com/morning-market-outlook-08082024/

8 Aug 20246min

In today's pre-market update, Stephen Whiteside from TheUpTrend.com highlights that stock index futures are up across the board, though not enough to offset the previous day's losses. The market is showing some bargain hunting behavior, but this is unlikely to change the overall direction. The VIX spiked yesterday, with the VXX closing up nearly 40%. Despite entering Monday short on the market and long on Bear ETFs, there were no significant trend changes, although several support levels were broken, particularly the late May lows for the S&P 500 and Nasdaq 100. The financial and energy sectors saw substantial declines, and the Canadian market, which was closed yesterday, is expected to follow suit today. Whiteside also reports significant activity in leveraged ETFs and a downtrend in commodities like crude oil, natural gas, and copper. Money is moving out of the stock market and into bonds, pressuring bond yields downward. Several major stocks, including Nvidia, Intel, Apple, and Amazon, hit new lows but showed some recovery by the end of the day. Whiteside advises caution, noting that while some buying may occur at the market's open, it is uncertain whether this indicates a new trend. Overall, the market's current state reflects cautious optimism amidst ongoing volatility. Stephen Whiteside TheUpTrend.com Tuesday, August 6, 2024 https://theuptrend.com/morning-market-outlook-08062024/

6 Aug 20248min

In today’s update from TheUpTrend.com, Stephen Whiteside highlighted the sharp decline in stock index futures, indicating a favorable day for those holding Bear ETFs. Despite upcoming employment numbers, significant drops in certain stocks are negatively impacting major indices. Whiteside mentioned the Canadian markets will be closed on Monday and plans a site update by Tuesday morning. He noted the changes in market conditions, with crude oil, natural gas, gold, and silver trading signals remaining mixed. The semiconductor sector, particularly Advanced Micro Devices, saw substantial losses, while Meta experienced a bearish reversal day. https://theuptrend.com/morning-market-outlook-08022024/

2 Aug 20248min

[00:00:01]: Welcome and Market Overview [00:00:18]: July Market Recap: S&P, Nasdaq, Russell 2000, TSX [00:01:04]: Sector Performance: Regional Banks, Home Builders, Gold Stocks [00:01:28]: Technology Sector Update: Meta, Nvidia, AMD [00:02:04]: Market Reactions: Microsoft, Pinterest, VIX, Dow, SPY [00:03:10]: Index Analysis: Nasdaq, Russell 2000, Small Cap Stocks [00:03:47]: Sector Analysis: Home Builders, Real Estate, Financials [00:04:09]: Canadian Market Update: Energy, IT, Gold, Financials [00:05:22]: Stocks to Watch: Shopify, Royal Bank, National Bank, Metro [00:06:04]: Market Reversal and Closing Remarks https://theuptrend.com/morning-market-outlook-08012024/

1 Aug 20247min