• Good morning everyone and welcome to Tuesday Morning. .
• It's Stephen Whiteside here from the .
• uptrend.com in the pre market this morning things are fairly quiet. .
• We're waiting for CPI numbers to come out at 8:30 and of course those numbers could .
• influence the Fed meeting which is starting today. .
• And so we're expecting things to be fairly .
• quiet until the Fed meeting at 02:00 P.m. Wednesday afternoon. .
• Looking at the CNN Fear and Greed Index, we're at extreme greed at the moment and .
• of course you know that things are very overbought at the present time, so it's .
• very risky to buy anything new at these levels. .
• Now the VIX moved up yesterday looking for a close on Tuesday above 15.90. So options .
• traders getting a little nervous ahead of the CPI numbers. .
• Then we had the Dow Diamonds make a new .
• high for this move, heading up to the highs from a couple of months ago. .
• New high for the S&P 500 for the Nasdaq, 100 on the back of a big move up in chips. .
• So Semiconductors still leading this market higher. .
• Then looking at the Canadian market, .
• nothing going on here, we're treading water in the channel. .
• So still on a short term buy signal here. .
• If you didn't take that buy signal, then .
• of course the next close above the upper channel line would be helpful. .
• Breaking down the Canadian market. .
• It was the Infotech sector that tried to .
• pull us higher, while the energy sector tried to pull us lower. .
• Looking at infotech. .
• It was Lightspeed followed by Shopify. .
• Those were the big winners. .
• Looking at the big losers, it was Vermilion traded down to the lower channel .
• line, so still looking for a close below 1559. .
• And then we've got Athabasca and Cenovus Energy were the next big losers .
• and both of them are back on sell signals as of Monday's close. .
• Looking at the US market, similar situation where the Infotech sector led us .
• higher while energy was trying to pull us back down. .
• Now the big winner in Infotech was Broadcom, which was up over 6% on the day. .
• On the Dow it was Intel was the big winner up over 5%. .
• And on the SP 500 after Broadcom, we had Oracle up nearly 6% on the day. .
• So those were the big winners in the tech sector. .
• Looking at Tesla, tesla had an inside day, still trying to break through 250. .
• It's trading just above it this morning at 251. .
• 50. .
• So we're trying to break out. .
• If we can do that, then 265. .
• 63 would be our next target to the upside for Tesla. .
• Let's finish off this morning's presentation looking at the most popular .
• commodity ETFs, starting with the USO, which had a big down day yesterday. .
• So we are back on a sell signal for the USO. .
• Back on a sell signal for gasoline, still on a sell signal for natural gas. .
• That would change on Tuesday with a close above 6.44. Then looking at the GLD still .
• on a sell signal here that would change on Tuesday with a close above 182. .
• 96. .
• Not expecting a buy signal for Palladium or for Platinum on Tuesday. .
• And we still have silver on a buy signal that would change on Tuesday with a close .
• below $21.62. Okay, folks, that is all for this morning's presentation. .
• I'm going to be out of the office for the rest of the day, so I'm going to miss .
• whatever volatility we see from the CPI numbers at 830 this morning. .
• Have a great day. .
• Next time you'll hear my voice is on Wednesday morning. .