• Good morning everyone, and welcome to Tuesday morning. .
• It's Stephen Whiteside here from the .
• uptrend.com. Well, odly enough, this morning's stock index futures look very .
• similar to what they looked like at this time yesterday morning. .
• But during the day yesterday, Nvidia came out with some news and Nvidia moved up .
• sharply higher back on a buy signal as of Monday's close. .
• Now that had ripple effects across the .
• markets yesterday and it is a one day event. .
• And I'm not going to get overly excited about what happened yesterday. .
• A lot of things didn't change at all and .
• we'll go through some of those semiconductors were up sharply yesterday. .
• Still on a sell signal. .
• No change there. .
• We do have some other big cap tech stocks that we follow back on buy signals. .
• I wouldn't chase any of these on Tuesday. .
• We've got Meta, we've got Microsoft, we've .
• got Shopify all on buy signals as of Monday's close. .
• What didn't work? .
• Well, Apple and Tesla are still on sell signals, so no change there. .
• Now the real winners on Monday were actually the biotech sector and we saw the .
• index up over 4% on the day, being led higher by Amgen and Moderna. .
• We also had other stocks in the pharmaceutical area also do well, .
• including Abbot labs making a new high for this move on Monday. .
• Now the triple qs traded up into the .
• channel yesterday, not enough to give us a buy signal. .
• The Dow Diamond still on a buy signal. .
• The SPY ETF is back on a buy signal as of Monday's close. .
• I would wait and see if we get another .
• close above the upper channel line before I would do anything. .
• The ishares for the TSX 60 made a new high .
• yesterday for this move and still on a buy signal. .
• No change there. .
• Now the VIX came down to the lower channel line yesterday, did not close below it. .
• So on Tuesday we're looking for a close below 12.93. No change in trend for the .
• VIX, for the Nasdaq, or for the Russell 2000. .
• Now I'd feel a little more bullish this .
• morning if any of the VIX indices were back on sell signals. .
• I'd also feel a bit more bullish this morning if the US Dollar Index started to .
• trend lower and yesterday it had an inside day. .
• I'd also be a little more bullish if we saw more buying in the bond market. .
• The TLT closed higher yesterday, .
• but didn't close above the previous day's high, and the XBB closed higher on Monday. .
• But it had an inside day, so no real .
• changes for the US dollar index or for the bonds. .
• Looking at commodities, crude oil closed .
• lower yesterday, didn't take out last week's low just yet. .
• We are looking for a close above 74. .
• 20 to give us a buy signal on Tuesday. .
• Natural gas had a wide bar yesterday. .
• It made a new high for this move, then .
• closed slightly lower on the day, so no change there. .
• Canadian energy stocks still on a buy signal. .
• That would change on Tuesday if the XEG .
• closed below $15.62. We do have a lot of energy stocks that look like this. .
• Cenovus is on a sell signal right now. .
• At the same time, TC Energy and Enbridge made new highs on Monday. .
• Then looking at us energy stocks, they're .
• back on a sell signal as of Monday's close. .
• A lot of us energy stocks look like Conoco .
• Phillips and Occidental Petroleum at the same time. .
• We've got Phillips 66 still on a buy signal. .
• That would change on Tuesday with a close .
• below $133.16. Now the price of gold was down $16 yesterday. .
• Still on a sell signal here it's up $7 in the pre market. .
• We also have silver trading higher in the pre market. .
• In both cases, it would not be enough to change the trend. .
• New low for this move for the GDX and the .
• XGD at the same time, silver stocks are holding Friday's low, so no change there. .
• Barrick traded right up to the upper .
• channel line on Monday, so a close above 23. .
• 90 would give us a buy signal for Barrick on Tuesday. .
• No joy for Kinross. .
• New low for this move. .
• No joy for B2Gold. .
• Looks like it wants to try to hold $4 as support there. .
• We'll have to keep an eye on that and see .
• if we can get any upward momentum for B2Gold. .
• And last up this morning, Boeing is still in the news again today. .
• It is trading lower once again in the pre market this morning. .
• Not taking out yesterday's low just yet, .
• but certainly no change in direction for Boeing on Tuesday morning. .
• Okay folks, that is all for this morning's presentation. .
• Yesterday was a wild day. .
• It was led higher by Nvidia. .
• I wouldn't chase anything on Tuesday. .
• Yesterday was a one day event. .
• We're looking for fall through to the upside on Tuesday. .
• And so far from what we're seeing in the .
• pre market this morning, the market just doesn't want to do that. .
• So if you have a symbol that generated a .
• buy signal from Monday's trading action, you can wait for the next close above the .
• upper channel line to confirm that buy signal. .
• Otherwise, I would just stand aside on Tuesday morning. .
• Have a great day. .
• Next time you'll hear my voice is on Wednesday morning. .