Morning Market Outlook 07102024

In today's video, Stephen Whiteside from TheUpTrend.com provides a market update, noting that premarket trading is quiet with stock index futures slightly above fair value. The triple Q's hit $500 but remained below this level. The VIX had an inside day, and a close above $12.90 on Wednesday would signal a new buy, indicating potential stock declines. Tuesday's top performers were banks, while the Canadian energy sector and U.S. transportation stocks lagged. Intel led the Dow despite its overall pullback. The S&P 500 had minor gains, with Incyte and Albemarle as notable movers. The Nasdaq 100 saw a modest rise, with Tesla up 3.71% and Datadog down. In the Canadian market, Maple Leaf Foods led gains, while Badger was the biggest loser. The TSX 60's top performer was the National Bank, recovering from previous losses. Commodity ETFs showed mixed results, with USO and gasoline near sell signals, and natural gas, gold, silver, and palladium all experiencing minor movements. Whiteside anticipates a quiet market open and encourages viewers to like, share, and subscribe for future updates. Stephen Whiteside TheUpTrend.com Wednesday, July 10, 2024 https://theuptrend.com/morning-market-outlook-07102024/