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

This morning's premarket update shows the Nasdaq leading lower while commodities are mixed. Weekly, the S&P 500 is up 0.75%, with the Nasdaq outperforming at 1.64%. Notable sector moves include semiconductors surging over 6%, while crude oil is sharply down, and gold is up nearly $50. Thursday's trading saw gains for travel and mining stocks while energy stocks fell. Nvidia's performance lagged behind the semiconductor sector, and Chinese stocks like Alibaba and JD.com surged. The VIX remains on a sell signal, supporting higher stock prices unless the VIX closes above 17.53 on Friday. Stephen Whiteside TheUpTrend.com Friday, September 27, 2024 https://theuptrend.com/morning-market-outlook-09272024/

27 Sep 20249min

In Thursday’s premarket, stock index futures are trading above fair value, with the Dow up around 200 points and Nasdaq futures nearly 300 points higher. Key market movers include Chinese government stimulus and earnings reports from Micron and Intel. Micron, currently trading near resistance at the top of the Flypaper channel, could push higher, with targets set at 112.50 and beyond. Intel, approaching the $25 level, faces significant congestion, and a breakout would require major news. Additionally, financial stocks and bonds show signs of weakness, while tech giants like Nvidia and Shopify continue to surge. Nvidia hit new highs, nearing its August peak, while Tesla, Taiwan Semiconductor, and other semiconductor stocks are also seeing gains. Meanwhile, crude oil continues its downtrend, providing some relief for consumers but posing challenges for the energy sector. Stephen Whiteside TheUpTrend.com Thursday, September 26, 2024 https://theuptrend.com/morning-market-outlook-09262024/

26 Sep 20248min

This morning's premarket shows stock index futures and commodities trading near fair value. With China stimulating its economy, global markets saw gains on Tuesday, and the VIX remains on a sell signal, supporting higher stock prices. Major U.S. indices like the Dow, S&P 500, and Nasdaq are nearing resistance points, while Canadian markets continue to thrive with the help of commodity sectors and the banking industry. In Canadian markets, gold, silver, and copper are seeing strong upward moves, with mining and financial sectors performing well. Many banks, such as Bank of Montreal, CIBC, and TD Bank, have hit resistance levels, with Royal Bank generating a recent sell signal. Despite some market strength, further catalysts may be needed to push stocks above their current resistance. Stephen Whiteside TheUpTrend.com Wednesday, September 25, 2024https://theuptrend.com/canadian-stock-market-trends-09252024/

25 Sep 20247min

Today’s premarket update covers various economic indicators and stock movements. Stephen Whiteside highlights that while stock index futures are quiet and trading near fair value, commodities such as crude oil and gold are seeing a rise. The consumer confidence report coming out at 10:00 a.m. is a significant data point for today's market action. Stephen also points out resistance levels across major indices like the S&P 500, Nasdaq 100, and Russell 2000, while Canadian markets have broken through resistance levels, with banks and energy stocks playing a key role in the upward trend. In terms of specific stocks, attention is drawn to semiconductors, Canadian energy stocks, and tech stocks like Meta, Shopify, and Tesla, which are pushing new highs. Stephen also delves into commodities, where crude oil is holding support, and gold and silver are showing minor pullbacks. He finishes by highlighting the performance of mining and energy sectors and top tech companies, such as Tesla, which is currently trading above key price targets. Stephen Whiteside TheUpTrend.com Tuesday, September 24, 2024 https://theuptrend.com/morning-market-outlook-09242024/

24 Sep 20249min

[00:00:06]: Welcome and Market Overview [00:00:19]: Pre-market Highlights for Gold and Stocks [00:00:33]: Stock News: Nike and FedEx Performances [00:00:52]: S&P and TSX Winners [00:01:18]: VIX and Stock Price Targets [00:02:06]: Russell 2000 and Semiconductor Updates [00:02:28]: Commodity ETF Movements [00:03:25]: TSX Most Active Stocks [00:04:36]: Wall Street Most Actives [00:05:49]: Market Open Predictions and Final Thoughts Stephen Whiteside TheUpTrend.com Friday, September 20, 2024 https://theuptrend.com/morning-market-outlook-09202024/

20 Sep 20247min

Today is Fed day, and stock index futures are trading above fair value in the pre-market. Crude oil inventories will be released later this morning, which could influence energy stocks, while the main focus remains on the Federal Reserve's interest rate decision and subsequent press conference. Market sentiment has shifted from expecting a 25 basis point cut to a 50 basis point cut, but Fed days typically cause volatility, making it risky to bet on the market's immediate direction. The stock market is currently overbought, with the VIX elevated, indicating heightened market uncertainty. Major indices such as the S&P 500, Nasdaq, and Russell 2000 are approaching highs, while bond markets, especially junk bonds, continue to show bullishness. Canadian and U.S. financial stocks are performing well, with several sectors making new highs. However, this volatile period means caution is warranted, especially ahead of the Fed's announcements. Stephen Whiteside TheUpTrend.com Wednesday, September 18, 2024 https://theuptrend.com/morning-market-outlook-09182024/

18 Sep 20248min

In the premarket on Wednesday, stock index futures are trading lower as the market awaits key CPI data. Energy inventories are also in focus after crude oil hit a new low. The market was volatile on Tuesday, with large financial stocks like JPMorgan and Goldman Sachs dragging the market down. However, real estate and tech stocks helped the market recover by the close. While the S&P 500's VIX remains stable, the Russell 2000 shows weakness, indicating a risk-off trade in mid and small-cap stocks. Energy stocks continued their downward trend, while gold and silver showed slight gains. Cryptocurrencies, including Bitcoin and Ethereum, were up on Tuesday but down in the premarket on Wednesday. Bank stocks held strong despite the broader market's volatility. Stephen Whiteside TheUpTrend.com Wednesday, September 11, 2024 https://theuptrend.com/morning-market-outlook-09112024/

16 Sep 20246min

In today’s pre-market update, Stephen Whiteside discusses the mixed signals from Dow and Nasdaq futures, along with the upcoming Fed meeting, which will likely determine market volatility. The bond market shows strength, with bond yields moving lower, while key commodities like gold, silver, and copper are all gaining ground. Energy markets also saw movements, with potential buy signals for crude oil and gasoline. The S&P 500 is approaching all-time highs, and the Nasdaq is recovering despite lingering uncertainty. The Canadian market is also strong, with ETFs and financials making new highs. Whiteside also reviews key stocks like Nvidia, Tesla, and Palantir, all of which remain on buy signals, while some stocks like Intel and American Airlines are still trending downward. Stephen Whiteside TheUpTrend.com Monday, September 16, 2024 https://theuptrend.com/morning-market-outlook-09162024/

16 Sep 20249min