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

Good morning, everyone. Stephen Whiteside from TheUpTrend.com here with your Wednesday market update. In the premarket, stock index futures and commodities are trading higher, with crude oil up over $2 due to global tensions. Today, we have numerous economic numbers being released, but nothing significant enough to shift the market. Energy inventories will be reported later in the morning, and the afternoon will bring increased volatility as it's Fed day, with potential market reactions to any rate cuts. Several stocks and sectors are showing notable activity. Advanced Micro Devices is performing well but hasn't triggered a buy signal yet. The VIX remains elevated, indicating possible market gaps, and the chip sector along with the Nasdaq 100 hit new lows on Tuesday. Pre-market trading shows a slight recovery for these indices. Noteworthy movements include PayPal and Warner Brothers as big winners, while Crowdstrike and Nvidia continue to make new lows. In the Dow, Travelers Group, Goldman Sachs, and JP Morgan led gains. On the Canadian market, sectors such as Consumer Staples, Financials, and Telecom stocks are showing strength, with notable performances from Brookfield Asset Management, TD Bank, and Hydro One. However, Bank of Montreal faced significant declines. Expect a volatile day with possible market shifts post-Fed announcements. Stephen Whiteside TheUpTrend.com Wednesday, July 31, 2024 https://theuptrend.com/morning-market-outlook-07312024/

31 Juli 20246min

Good morning, everyone. This is Stephen Whiteside from TheUpTrend.com with your Tuesday market update. In the pre-market, stock index futures are slightly above fair value, with mixed commodities as crude oil is down and gold is slightly up. Today marks the start of the Federal Reserve meeting, with a key employment report due at 10:00 a.m. Despite the VIX still on a buy signal and the “magnificent seven” stocks on a sell signal, major indices like the Dow, S&P 500, and NASDAQ saw little change yesterday, largely pausing ahead of the Fed meeting. The Russell 2000 and other small-cap indices made attempts to break out but faced resistance, while banks and regional banks hit new highs but pulled back by the close. In the Canadian market, the Canadian dollar hit a new low, benefiting exporters but hurting importers, influenced by low commodity prices including crude oil, natural gas, copper, gold, and silver. However, the TSX remains resilient due to strong performance in consumer staples, financials, and income trusts. Various sectors including real estate, telecom, and utilities also showed strength, with several stocks like Royal Bank, CIBC, Sun Life, Fortis, Circle K, Brookfield, and Cineplex hitting new highs. Notably, the Canadian stock market is reaching new highs even without the support of the commodity sector, an unusual but positive development. Have a great day, and you'll hear from me again on Wednesday morning. Stephen Whiteside TheUpTrend.com Tuesday, July 30, 2024 https://theuptrend.com/morning-market-outlook-07302024/

30 Juli 20245min

In today's update, Stephen Whiteside from TheUpTrend.com highlighted a bearish start to Thursday morning, with stock index futures and commodities trading lower pre-market. Significant economic data is expected at 8:30 AM, which could alter market direction. Notably, gold, which was up $8.80 yesterday, dropped $34 pre-market, maintaining a sell signal. The Bank of Canada’s rate cut didn't help the TSX, potentially triggering a sell signal. The VIX remains on a buy signal, indicating bearish sentiment, while bear ETFs showed substantial gains. Key stocks like Tesla and Crowdstrike continued their downward trend, affecting their respective ETFs, with Tesla notably down over 12%. The analysis also covered notable movements in the TSX, including stocks like Royal Bank, TD Bank, and Shopify, which are at critical points relative to their moving averages and channel lines. In the US market, stocks such as Ford, AT&T, and Bausch showed varied performances, with Bausch facing unexpected bankruptcy rumors. Advanced Micro Devices and Palantir hit new lows, while other major stocks like Apple and Alphabet continued their decline. Overall, the market shows bearish tendencies, but upcoming economic reports might influence the day's trajectory. Stephen Whiteside TheUpTrend.com Thursday, July 25, 2024 https://theuptrend.com/morning-market-outlook-07252024/

25 Juli 20246min

In the pre-market on Tuesday, stock index futures were flat, with mixed commodities as gold prices rose and crude oil dipped slightly. On Monday, the VIX decreased, signaling a potential sell signal if it closes below 12.72. The past week's market weakness was mainly in the semiconductor sector and the "magnificent seven," while the broader market remained resilient. The Dow experienced an inside day, and the S&P 500 traded bullishly, closing above Friday's high despite being on a sell signal. Similarly, other indices like the Vanguard Total World ETF, Q's, and Equal Weighted NASDAQ 100 showed bullish signs by closing above Friday’s high. Money continued to flow into the Russell 2000, supporting small and micro caps. Key stocks in the Magnificent Eight, like Apple, held steady with potential buy signals if specific price points are met. Earnings reports are influencing stocks like Amazon, Alphabet, Meta, Microsoft, Nvidia, and Shopify, with Tesla reporting soon. Crude oil and gasoline hit new lows, while natural gas showed potential buy signals. Gold (GLD) was on a sell signal but trading higher in the pre-market. Canadian market highlights included significant gains in Marijuana stocks and Sleep Country, while mining stocks and Air Canada struggled. The TSX and TSX 60 showed overall gains, with specific sectors like Energy, Gold stocks, Financials, and Infotech holding steady. Top active stocks included TC Energy, Enbridge, TD Bank, Suncor, and Royal Bank, all maintaining their trends. https://theuptrend.com/morning-market-outlook-07232024/

23 Juli 20245min

In today's market outlook, Stephen Whiteside from TheUpTrend.com discussed the current state of the pre-market, highlighting the lack of major economic data and focusing on individual companies. Microsoft and Cloudstrike are facing technical issues, resulting in pre-market declines, while Netflix's earnings report has also led to a drop in its stock price. The fear index (VIX) has risen significantly, impacting the tech sector the most. The Nasdaq 100 and S&P 500 are on sell signals, with the Dow experiencing a bearish reversal despite reaching new highs. The Equal Weighted S&P 500 and Russell 2000 show signs of weakness, particularly in communication services, semiconductors, and technology sectors.

19 Juli 20247min

In today's video, Stephen Whiteside from TheUpTrend.com provides a market update for Friday morning. He reports that stock index futures are trading around fair value, with mixed commodity prices—crude oil higher and gold down. The market is currently calm ahead of the PPI numbers release and some major US bank earnings. Thursday saw significant market swings, with money moving from big-cap tech stocks to underperforming sectors. Whiteside highlights the Canadian market's performance, noting new highs in the TSX 60, mid-caps, and small caps, with notable gains in gold stocks and financials. In the US market, there was a rotation from big-cap tech to other areas, with key indices hitting price targets. He concludes by discussing the performance of major stocks like Apple, Amazon, and Tesla, and reassures that while big-cap tech stocks have pulled back, the overall market remains robust. Stephen Whiteside TheUpTrend.com Friday, July 12, 2024 [00:00:01]: Friday Market Overview [00:00:19]: Preview of PPI Numbers and US Bank Reports [00:00:49]: Thursday's Market Swing and Big Cap Tech Stocks [00:01:13]: Canadian Market Performance Highlights [00:01:57]: Key Stock Movements in Canadian Market [00:02:20]: US Market Analysis and Price Targets [00:03:14]: Money Flow in US Market [00:04:04]: Tech Stocks and Market Trends [00:04:34]: Performance of Magnificent Eight Stocks [00:06:31]: Market Rotation and Future Outlook https://theuptrend.com/morning-market-outlook-07122024/

12 Juli 20248min

In today's video, Stephen Whiteside from TheUpTrend.com provides a market update, noting that premarket trading is quiet with stock index futures slightly above fair value. The triple Q's hit $500 but remained below this level. The VIX had an inside day, and a close above $12.90 on Wednesday would signal a new buy, indicating potential stock declines. Tuesday's top performers were banks, while the Canadian energy sector and U.S. transportation stocks lagged. Intel led the Dow despite its overall pullback. The S&P 500 had minor gains, with Incyte and Albemarle as notable movers. The Nasdaq 100 saw a modest rise, with Tesla up 3.71% and Datadog down. In the Canadian market, Maple Leaf Foods led gains, while Badger was the biggest loser. The TSX 60's top performer was the National Bank, recovering from previous losses. Commodity ETFs showed mixed results, with USO and gasoline near sell signals, and natural gas, gold, silver, and palladium all experiencing minor movements. Whiteside anticipates a quiet market open and encourages viewers to like, share, and subscribe for future updates. Stephen Whiteside TheUpTrend.com Wednesday, July 10, 2024 https://theuptrend.com/morning-market-outlook-07102024/

10 Juli 20244min

Canadian Stock Market Timing 07092024 In today's presentation, Stephen Whiteside from TheUpTrend.com provides a comprehensive overview of recent market activities. He starts with the U.S. market, noting the VIX's potential buy signal and new highs for the S&P 500, with semiconductors, particularly Intel, leading gains. The focus then shifts to the Canadian market, where all major indices are on buy signals despite some volatility. Consumer Staples, led by George Weston, Jamesons, and Loblaws, have been strong performers. In contrast, the Energy sector shows signs of potential sell signals, particularly for Athabasca and Suncor. The Financial sector is mixed, with some stocks like Royal Bank and Manulife showing positive trends while others remain stagnant or bearish. Whiteside concludes by highlighting the differences between the Canadian and U.S. markets, particularly in the technology sector, and advises caution in the Energy sector while noting stability in the Gold sector. Stephen Whiteside TheUpTrend.com Tuesday, July 9, 2024 https://theuptrend.com/canadian-stock-market-timing-07092024/

9 Juli 20246min