Tesla Reverses, Ethereum Climbs, TSX Banks Surge – Tuesday Market Update

Stephen Whiteside's Tuesday Market Update: Mixed futures, Dow hits highs, Bitcoin can't break $100K, key economic data ahead. Plus, big-cap tech, energy stocks, and Black Friday deals on our stock market timing service. Watch now! In today's Tuesday Morning Market Update, Stephen Whiteside of TheUpTrend.com shares insights on pre-market activity, with mixed stock index futures signaling a potential varied open. The S&P 500 and NASDAQ are trading higher, while the Dow and TSX 60 are lower. Commodities show a mixed trend, with gold slightly up and crude oil down. Key economic data, including home sales and consumer confidence, is anticipated later in the day. Stephen also highlights Black Friday membership offers, with discounts for new and upgrading members. Market movements include the Dow's new highs, driven by Sherwin Williams and Boeing, while big-cap tech stocks weigh down the S&P 500 and NASDAQ. Bitcoin hovers around $100,000, facing potential resistance or further gains. Energy and commodity ETFs, along with metals like gold and silver, remain under pressure. Financials show mixed results, with CI Financial surging after acquisition news. Stephen concludes with updates on Canadian markets and recent tariff announcements. Stephen Whiteside TheUpTrend.com Tuesday, November 26, 2024[00:00:00]: Mixed Market Open and Black Friday Sales[00:00:42]: Dow Performance and S&P 500 Resistance[00:01:43]: Tech Stocks Impact on Indices[00:02:15]: Tesla and Nvidia Market Movements[00:02:50]: Russell 2000 and Market Leaders[00:03:39]: Bitcoin's Recent Performance and Projections[00:05:26]: Currency Market Reactions to Tariff News[00:05:48]: Canadian Market and Financial Sector Update[00:07:04]: Commodity ETFs and Energy Sector Movements[00:07:58]: Metals Market Update and Impact on Stocks https://theuptrend.com/morning-market-outlook-11262024/

26 Nov 202410min

In Monday’s premarket update, Stephen Whiteside of TheUpTrend.com discusses the bullish momentum in the stock market as U.S. indices push higher ahead of Thanksgiving week. The Dow is leading gains, and the S&P 500 and NASDAQ are showing signs of recovery, with key ETFs like the equal-weighted S&P and NASDAQ outperforming. Stephen highlights the continued struggles of big-cap tech stocks like Alphabet, Amazon, and Meta, while small-cap and mid-cap stocks signal increased risk-on sentiment. In the Canadian market, the TSX and TSX 60 are hitting new highs, driven by strength in financials and industrials. Energy stocks face resistance, while gold and silver stocks struggle to break through key levels. Stephen also provides insights into commodities, including crude oil, natural gas, and copper. With no significant economic data this morning, the market appears set for a positive open. Stephen Whiteside TheUpTrend.com Monday, November 25, 2024 https://theuptrend.com/morning-market-outlook-11252024/

25 Nov 20249min

In this morning's market update, Stephen Whiteside from TheUpTrend.com highlights key market movements and events influencing today's trading. Stock index futures are up, with the NASDAQ leading gains. Bitcoin continues to rally, and energy inventories and Nvidia's earnings announcement are expected to impact market momentum. While gold stocks showed strong performance on Tuesday, Stephen advises caution, suggesting partial investments until further confirmation. Nvidia and Super Micro led gains, but Stephen warns against risky trades like Super Micro despite its sharp rise. The Dow underperformed on Tuesday, impacted by declines in United Health, 3M, and Nike. Healthcare stocks remain weak, with pharmaceuticals and biotechs dragging the sector lower. On the Canadian side, gold and materials led modest gains, while consumer staples and industrials weighed on the TSX 60. Commodity markets showed some positive signs, with crude oil, natural gas, and palladium gaining ground. Stephen concludes with a reminder that the market might remain cautious ahead of Nvidia's earnings report later today. Stephen Whiteside TheUpTrend.com Wednesday, November 20, 2024 https://theuptrend.com/morning-market-outlook-11202024/

20 Nov 20248min

In Monday's market update, Stephen Whiteside highlights a mixed premarket performance, with the NASDAQ buoyed by Tesla's premarket surge of $25. He notes the US Dollar hitting new highs and its implications for American exporters and importers during the holiday season. Key updates include gold's $26 rally and a focus on the bond market, contrasting the TLT and XBB due to diverging central bank policies. Stephen reviews notable stocks from Friday's session, including Nvidia, Tesla, and Bank of America, alongside TSX most-actives like Enbridge and Canadian Natural Resources. He emphasizes potential support levels, buy signals, and price targets for several equities. With futures suggesting a modestly positive open, he sets the stage for Tuesday's market analysis. Stephen Whiteside TheUpTrend.com Monday, November 18, 2024 https://theuptrend.com/morning-market-outlook-11182024/

18 Nov 202410min

In today’s Friday market update, Stephen Whiteside of TheUpTrend.com discusses the pre-market outlook, with Dow futures down 150 points following a weak trading day. He highlights critical economic indicators, including retail sales and industrial production, and their potential impact on market trends. Notable performances this week include the TSX surpassing 25,000, while the S&P 500 and NASDAQ 100 experienced declines. Gold and crude oil prices are trending lower, and bond yields continue to rise, exerting pressure across markets. Stephen analyzes key sectors, noting sell signals in healthcare, semiconductors, and gold miners, while Canadian energy stocks showed strength. He also reviews individual stocks like Apple, which has returned to a buy signal despite mixed investor sentiment, and Tesla, under pressure due to EV subsidy rumors. With actionable insights into current trends, this update equips traders for the day ahead. Stephen Whiteside TheUpTrend.com Friday, November 15, 2024 https://theuptrend.com/morning-market-outlook-11152024/

15 Nov 20248min

In today's pre-market update, Stephen Whiteside from TheUpTrend.com highlights key market movements ahead of jobless claims and PPI numbers. Stock index futures are up, with a notable drop in gold prices and a continued rise in Bitcoin, while the VIX remains on a sell signal. Bitcoin-related stocks saw major reversals, and Whiteside advises taking profits as stocks like Bitfarms, Galaxy, and Hive experienced pullbacks. Shifting focus to technology and commodity stocks, the update also covers downward trends in copper, gold, and silver. Energy stocks show modest gains, while the SPY remains below the critical 600 level. Whiteside also analyzes popular tech ETFs, including ARK's Genomics and Fintech ETFs, which reached recent highs before slight pullbacks. Whiteside concludes with targets for major tech stocks like Apple, Tesla, and Nvidia, all crucial for investors monitoring the NASDAQ's movement. Stephen Whiteside TheUpTrend.com Thursday, November 14, 2024 https://theuptrend.com/morning-market-outlook-11142024/

14 Nov 20248min

In this pre-market update, Stephen Whiteside of TheUpTrend.com discusses how the Dow futures are trading lower ahead of the upcoming CPI numbers, which may impact the markets. The TSX saw strong gains, driven by Shopify’s impressive 21% rally, which helped stabilize the index. Whiteside reviews key resistance points and exit strategies for Shopify and the SPY as they approach significant levels, emphasizing the importance of managing trades as stocks reach high targets. Whiteside also breaks down recent shifts in commodities, with mixed moves in gold and crude oil, and highlights the VIX's sell signal, which supports higher stock prices. He provides insights into notable stock movements, such as Tesla’s reversal and Micron’s resistance challenges, along with updates on Canadian stocks like Cameco and Nutrient. The session closes with an outlook on energy stocks and a preview of the CPI release's potential market impact." Stephen Whiteside TheUpTrend.com Wednesday, November 13, 2024 https://theuptrend.com/morning-market-outlook-11132024/

13 Nov 20249min

In today’s Tuesday morning pre-market update, Stephen Whiteside from TheUpTrend.com notes the current stock index futures trading below fair value, with Home Depot’s earnings rising amid recovery efforts after recent storms. Cryptocurrencies like bitcoin and Ethereum saw gains following the U.S. election, and major stocks such as Coinbase and Bitfarms have also spiked. Meanwhile, reduced market fear, as indicated by a drop in the VIX, hints at potential support for higher stock prices. Stephen emphasizes the role of big round numbers as psychological markers, with the S&P hovering around 6,000, acting as resistance. In commodities, oil and gasoline prices declined, while natural gas gained. Copper stocks are struggling, and precious metals dropped, affecting both U.S. and Canadian stock performances. Stephen also reviews trending U.S. and TSX stocks, noting movements for Tesla, Nvidia, and Shopify. Stephen Whiteside TheUpTrend.com Tuesday, November 12, 2024 https://theuptrend.com/morning-market...

12 Nov 20249min