• Good morning, everyone, and welcome to Tuesday morning. .
• It's Stephen Whiteside here from theuptrend. .
• com. .
• In the pre-market this morning, things are fairly quiet. .
• Stock index futures are trading right around fair value. .
• Crudol is slightly lower, while gold is up .
• a couple of dollars in the pre-market on Tuesday morning. .
• Now, the VIX continued to move lower, day .
• closing just below the lower channel line, so we are back on a sell signal. .
• That's supportive for higher stock prices. .
• Now, last week, the VIX was able to trade up towards 15.63 before pulling back. .
• And so 15.63 has been resistant since early November. .
• We're really going to have to break out above that level before the rest .
• of the stock market is going to start to pay attention. .
• One stock that was in the news from .
• Monday's trading action, Arthur Daniels Midland dropped over 24% on Monday. .
• That's the biggest loss, one day loss, I believe, since 1929. .
• You can see that the pros gave up control .
• in the middle of December, so they weren't expecting anything positive. .
• I'm sure they were not expecting a 24% drop in one day. .
• Now, sticking with commodities, Crude oil moved up yesterday. .
• It's back on a buy signal. .
• Natural gas, unfortunately, went in the .
• opposite direction, making a new low for this move. .
• Energy stocks in Toronto were up just a couple of pennies after making a new low. .
• Energy stocks in the US were also up. .
• In both cases, we do not have new buy .
• signals for the energy sector coming into Tuesday's trading action. .
• Looking at the miners, the price of copper .
• closed lower yesterday, still on a sell signal. .
• Copper miners made a new low for this move. .
• Gold was down $7 yesterday, it's up $4 in the pre-market this morning. .
• That's not going to give us a buy signal. .
• Gold miners in New York made a new low. .
• Gold miners in Toronto also made a new low on Monday. .
• Looking at the price of silver, it was down yesterday. .
• Trying to hold support at $22. .
• Silver miners made a new low yesterday and then closed up a penny on the day. .
• Looking at the US market, everything was .
• up on Monday except consumer staples, utilities, and consumer discretionaries. .
• We saw the DOW make a new high yesterday, .
• a new high for the S&P 500 and a new high for the Nasdaq 100. .
• We also saw the Russell 2000 and Russell .
• Microcaps back on buy signals as of Monday's close. .
• Looking at sectors, financials made a new high for this move. .
• We've got US Bank stocks back on a buy signal. .
• And once again, it's US Insurance companies leading the financials higher. .
• That's a theme that's been going on for quite a while now. .
• Technology stocks made a new high yesterday. .
• Semiconductors were up nicely, and we've .
• got Communication Services making a new high. .
• We've also got the Transports back on a buy signal as of Monday's close. .
• Now, Apple continued to move higher on Monday, so The open gap has been filled. .
• We hit our next price target of 193.75. .
• So congratulations if you had an order in there. .
• If we can start closing above yesterday's high, then $200 is our next price target. .
• What didn't work? .
• Well, Tesla continued to move lower on Monday, making a new low for this move. .
• Looking at the Canadian market, we're still waiting for a buy signal for the TSX .
• and the TSX-60, while mid-caps did generate a buy signal on Monday. .
• We did not see as many gainers in the .
• Canadian market as we did in the US market. .
• What worked on Monday, well, it was real .
• estate, followed by health care, followed by financials. .
• The financials are back on a buy signal as of Monday's close. .
• We've got the TMX continuing to move higher here. .
• We've got a new high for this move for CI Financial. .
• We've got Onyx making a new closing high yesterday. .
• The Royal Bank is still on a sell signal, generated a sell signal last week. .
• We're pulled back into the channel yesterday, looking for a close on Tuesday .
• above 133.76. We did pull back last week on the midterm .
• chart, not enough to give us a sell signal. .
• So we are coming into February. .
• February, it should be a pretty good month for financials. .
• Okay, folks, that is all for this morning's presentation. .
• So far, it looks like we're going to have a quiet open on Tuesday morning. .
• Have a great day. .
• The next time you'll hear my voice is on Wednesday morning. .
• Morning. .