• Good morning, everyone, and welcome to Tuesday morning. .
• It's Stephen Whiteside here from T heUpTrend.com In the pre market this .
• morning, stock index futures are trading above fair value. .
• So so far, it looks like investors want to .
• do a little buying at the open on Tuesday morning. .
• Looking at the CNN fear and greed index, we have made it up into extreme greed. .
• We haven't made it up all the way to the top. .
• Nobody says we have to actually do that, but this is a good indication that this is .
• not the time to be putting new money into the stock market. .
• Now, we normally look to New York and .
• Toronto for guidance on what's going to happen next in the markets. .
• But what's been going on over the last seven weeks has a lot more to do with the .
• people in Chicago than it does with the people in New York or Toronto. .
• Looking at the VIX, the VIX is still on a daily sell signal. .
• That would change on Tuesday if we were to .
• close above 12.96. And then looking at the bond market, we've got ten year yields. .
• We are seeing panic selling at the moment. .
• It's currently ranked as zero. .
• We've come down to the 391 level that's currently acting as support. .
• And you can see that on the right side chart. .
• We had an inside day yesterday, an inside day the day before. .
• And so we're looking to see if bond yields start to move back up. .
• That would, of course, be on the back of falling bond prices. .
• We're currently seeing panic buying in the bond market. .
• The ten year note has run up to 112. .
• 50 and stopped over the last couple of days. .
• It could continue its climb. .
• And if it could continue to move higher, .
• that would be supportive for higher stock prices. .
• If we start to pull back and get a sell .
• signal here, that, of course would be negative for the stock market. .
• And of course, as a consumer, you can .
• watch that in the TLT or in the XBB traded in Toronto. .
• If we see sell signals in either of those, .
• that of course would be very negative for the stock market. .
• Now, speaking of the stock market, the .
• ishares for the TSX 60 had an inside day on Monday. .
• The big winner on the TSX was one of the .
• big losers from last week, and that was Dollarama. .
• That was the big gainer. .
• Then looking at the Dow, new high for the Dow. .
• And the big winner on the Dow was also one .
• of the big losers from last week, and that was Procter and Gamble. .
• Still, both Dollarama and Procter and Gamble are on daily sell signals. .
• That has not changed. .
• There's the S&P 500 moving up yesterday, the big winner on the S&P 500 was Etsy. .
• Still on a buy signal, no change in trend. .
• Then looking at the Nasdaq, the Nasdaq made a new high yesterday. .
• What didn't make a new high? .
• Well, the Equal Weighted ETF actually had an inside day of an inside day. .
• That's also true of the Next Gen Nasdaq stocks. .
• That ETF also had an inside day of an inside day. .
• Now, it was the world's greatest amusement park that led the Nasdaq higher on Monday. .
• And that, of course, was Costco. .
• A couple of those next generation stocks people were asking me about yesterday, .
• both Coinbase moving up yesterday, still on a buy signal. .
• No change in trend. .
• And no change in trend for Square. .
• Both still on buy signals. .
• Let's finish off today's presentation. .
• Looking at commodity etfs, and we've got .
• the USo back on a buy signal as of Monday's close. .
• Joining gasoline already on a buy signal. .
• And then we had natural gas trade up to the channel. .
• So a close above $5.06 on Tuesday would give us a buy signal for natural gas. .
• Inside day yesterday for the GLD. .
• No change in trend there. .
• Then we've got palladium continuing to .
• move higher, making a new high for this move. .
• Platinum moved up slightly on Monday. .
• And then looking at the SLV we pulled back yesterday, still on a buy signal. .
• That would change on Tuesday with a close .
• below $21.50. Okay, folks, that is all for this morning's presentation. .
• We've talked about selling over the past week and locking in some profits. .
• There's no reason to completely liquidate any position until you get a sell signal, .
• but it's prudent that you do lock in some profits. .
• Stocks usually fall faster than they rise, and I wouldn't be surprised if we saw some .
• aggressive selling in the month of January. .
• Enjoy the rest of your day, folks. .
• Next time you'll hear my voice is on Wednesday morning. .