Market Surges on PPI Gains: Key Buy Signals & CPI Anticipation - August 14, 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/