Stock Market Timing Television
May 09, 2023 1:15 pm
Tuesday, May 9, 2023
Good day.
In this morning's premarket, stock index futures are down with the Nasdaq being the weakest of the bunch. The VIX closed lower yesterday, and a close below 16.88 on Tuesday would give a sell signal, which would be supportive for higher stock prices. The Dow is not generating a buy signal and was on a bearish reversal day on Monday, while the S&P 500 is still on a sell signal, and the Nasdaq is still on a buy signal. The biggest winner in the communication services sector was Warner Brothers, while the biggest loser in the real estate sector was Altus. Apple had an inside day on Monday, while Amazon is still on a sell signal, and Alphabet is still on a buy signal.
In the Canadian market, Infotec was the big winner yesterday, and the biggest loser was real estate. The TSX 60 closed just above the upper channel line yesterday, and a close below $31 is needed to give a new sell signal. Altus fell apart last week and is still holding the low from Friday. In the US market, the biggest winner yesterday was Communication Services, while the biggest loser was Real Estate. The biggest loser in Real Estate was Welltower, which was down on the day but not enough to give a sell signal. Lastly, Tesla is on a second day of a buy signal, and a close below 161.20 is needed to give a sell signal on Tuesday.
Back on Thursday.
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