Morning Market Outlook 06212024

Morning Market Outlook - June 21, 2024 Good morning, everyone. I'm Stephen Whiteside from theuptrend.com with today's Morning Market outlook. In the pre-market, activity is quiet with no major economic numbers due before the market opens. Stock index futures are slightly down, commodities are mixed with gold up and crude oil slightly down. Yesterday, the S&P 500 hit 5500 before pulling back, marking a bearish reversal. The VIX ended on a buy signal, which is negative for stocks. The Dow had a strong day, led by Salesforce, Chevron, and IBM. The Nasdaq's triple Qs had a reversal, hitting a price target. Among the Magnificent Eight, Apple and Amazon remained above the upper channel line, while Alphabet, Meta, Microsoft, and Nvidia showed potential for sell signals. Shopify and Tesla showed little change, with Tesla looking for a breakout above $187.50. The Canadian market saw the TSX trying to hold its April lows. Energy and gold sectors showed positive signs, with several gold miners back on buy signals. Overall, while some tech stocks are pulling back, other sectors like energy and US financials are showing strength. Enjoy your day and weekend. The next update will be on Monday morning. Thank you for watching. Stephen Whiteside TheUpTrend.com Friday, June 21, 2024 https://theuptrend.com/morning-market-outlook-06212024/