- Hello everyone,
and welcome to Tuesday morning. .
- In the pre market this morning,
things are fairly bullish. .
- We've got stock index futures
slightly above fair value. .
- Commodities are all trading above fair .
- value, being led higher
by crude oil up over 2%. .
- Well, we had a lot of negative
news come out of China yesterday. .
- It didn't really seem to hurt
the stocks very much. .
- There's the SPDR China ETF
closing up on the day. .
- And then some of the casinos. .
- Got some good news yesterday from China. .
- And so we saw WINN resorts and Las Vegas
sands both trade higher on Monday. .
- Now looking at the rest of the market, .
- starting with the VIX,
the VIX gapped higher yesterday, .
- closed at the lower channel line, so
we're still looking for a close above 23. .
- 73 on Tuesday.
Looking at the US. .
- Dollar index, while day yesterday we went
down to retest the recent low and then .
- reversed closed higher on the day,
looking for close on Tuesday above 107.44. .
- Now, the biggest news of the day was
the big reversal in the price of crude .
- oil, which dipped below 75
and then closed higher on the day. .
- And as I mentioned earlier, .
- we're trading higher again in the pre
market on Tuesday morning. .
- Looking at the major index ETFs, .
- you can see we dipped into the channel for
the Dow Diamonds, as did the SPDR ETF. .
- And then the QQQ's for the Nasdaq traded .
- down to the lower channel line yesterday,
looking for a close on Tuesday below 281. .
- 30 to give us a sell signal there's .
- the Ishares for the TSX 60 holding
just above the upper channel line. .
- Now, energy stocks moved down yesterday. .
- The Ishares for the TSX 60 down 1. .
- 6%, while the SPDR ETF in the US. .
- Was down 2.74 percent, .
- Back on a daily Sell
signal looking at gold. .
- Gold was down $14.30 yesterday, looking
for a close on Tuesday below 1750. .
- 69. .
- The gold miners ETF, the GDX, .
- traded down to the lower channel line,
looking for a close below 27. .
- 20 on Tuesday to give us a sell signal. .
- And then for the Ishares
for the TSX Global Gold Index, .
- we're looking for a close below 16.44.
Looking at some stocks in the news. .
- Well, Apple had a big down day yesterday. .
- It is back on a sell signal. .
- So it looks like we've put
in a lower high once again. .
- Now we'll have to wait and see
if we can put in a lower low. .
- Looking at Tesla, .
- Tesla traded up to the upper channel line .
- yesterday, we're looking
for a close above 187. .
- 37 to give us a buy signal on Tuesday. .
- Amazon, I'm not sure people were overly .
- excited about how Amazon did during
Black Friday and Cyber Monday. .
- We traded higher yesterday,
we're still looking for a close above 96. .
- 28. .
- Now compare that stock to Walmart,
which hit a new high on Monday. .
- And our last chart this
morning is Shopify. .
- Shopify got some great Black Friday news
and it gapped higher, .
- closing above the upper channel
line on both sides of the border. .
- Okay, folks, that is all
for this morning's presentation. .
- Have a great day. .
- Next time you'll hear my voice
is on Wednesday morning. .