• Well, good morning everyone, and welcome to Tuesday Morning. .
• It's Stephen Whiteside here from theuptrend.com in the premarket .
• this morning, stock index futures are slightly above fair value. .
• So, so far it looks like we're gonna see .
• some buying at the Open on Tuesday morning. .
• Now, this is a holiday shortened week, so we're expecting to have a slight .
• bullish buyer by us going into the long weekend. .
• Things should get very quiet on Wednesdays. .
• A lot of people use Wednesday as a travel day. .
• The US markets are going to be closed on Thursday, open a half day on Friday. .
• We're going to be taking advantage of that and taking off on Thursday and Friday. .
• We'll be back on Saturday with our weekend update. .
• Looking at the VIX, we traded down to last .
• week's lows yesterday, looking for a close on Tuesday above 25.30. .
• The US dollar index going in the opposite .
• direction, trading up into the channel, looking for a close above 108.57. .
• So there's two indicators moving in the opposite direction. .
• Then looking at Tesla, tesla making a new low yesterday, .
• so we're probably looking at the Peter Principle in play here. .
• Obviously it's not Tesla having the problem, it's Twitter. .
• And Elon Musk is certainly having a hell .
• of a time trying to get a handle on Twitter. .
• Now, Home Capital was up 57% yesterday, .
• so congratulations to anyone who owns Home Capital. .
• Not a stock I've ever been involved in. .
• If I was in this situation and I walked in today and saw this nice big gap up, .
• I would be certainly taking money off the table today and walking away. .
• Looking at the I shares for the TSX 60, we traded down to the lower channel line .
• yesterday, looking for a close below 30.35 on Tuesday. .
• It was the energy stocks that really put a damper on the Canadian market yesterday. .
• Wilde traded all the way down to $16 .
• before recovering, but still closing below the lower channel line, .
• so giving us a new sell signal on Monday for the energy sector. .
• At gold stocks trading water yesterday, so still on a buy signal, no change there. .
• And healthcare was down sharply yesterday. .
• Back on a sell signal. .
• You can see that we made a low back in July, we made a high back in August, .
• and we've been trading between those two levels ever since. .
• Looking at the US market, it's very quiet yesterday. .
• There's the Dow still sitting above the upper channel line. .
• We've got the SPY sitting right .
• on the channel, and we've got the Nasdaq trading back in the channel. .
• So looking for a closed blow, 278.13. .
• Not very concerned about that from what .
• we're seeing in the Premarket this morning. .
• And then there's the eyeshares for the Russell 2000. .
• Riding the lower channel line, looking for a close blow, 181.58. .
• Then. What worked yesterday? .
• Well, consumer staples were the big winners. .
• The big losers were energy services .
• and the semiconductors trading right at the upper channel line. .
• Let's finish off looking at commodity prices, starting with the metals. .
• Copper's down again. .
• So, second day of a sell signal for copper. .
• Gold was down again yesterday. .
• We need a close below 1744.99 trading slightly higher in the pre market this morning. .
• And then silver sitting right on the edge of a new cell signal, a closed below 21.02 .
• would do that for us on Tuesday. .
• Looking at energy, .
• crude oil went all the way down to $75. 75.27, I believe was the low and reversed. .
• And so 75 still acting as support for crude oil. .
• The natural gas traded higher yesterday. .
• We're trying to break out of the high from a couple of weeks ago. .
• If we can do that, look two lines up. .
• That takes us up to 8.59 And 8.59. .
• Yes, there's lots of support up there .
• at 8.59, which should act as resistance on the way back up. .
• Okay, folks, that's all for this morning's presentation. .
• Expecting a fairly quiet day on Tuesday. Have a great day. .
• Next time you'll hear my voice is on Wednesday morning. .