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/

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/

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.