• Good morning, everyone, and welcome to Tuesday morning. .
• It's Stephen Whiteside here from theuptrend. .
• com. In the pre-market this morning, US Stock .
• Index futures are trading below fair value. .
• At the same time, commodities are trading .
• higher, which could put a bid into the Canadian market on Tuesday. .
• Starting off by looking at the US market and looking at the VIX, the VIX is still .
• on a sell signal that's supportive for higher stock prices. .
• Things would change on Tuesday if the VIX were to close above 14. .
• 29. .
• Then Semiconductors continued to move higher on Monday. .
• We saw a new high for NVIDIA, hitting our .
• next price target of 875 before pulling back. .
• The DOW had a very quiet day. .
• It had an inside day on Monday. .
• Very quiet day for the S&P 500. .
• The big winner on the S&P 500 was HPE, .
• Hewlett-Packard Enterprise, and it was up over 10% on the day. .
• What didn't work yesterday was Tesla. Tesla rolled over. .
• It is back on a sell signal as of Monday's close. .
• Still dealing with that open gap from January. .
• Then looking at the Nasdaq 100, very quiet day. .
• Apple continued to move lower yesterday. .
• Our next price target was 175. .
• We closed at 175. 10. .
• If we take out yesterday's low, we would assume that we would head down to 168. .
• 75. .
• Now, the most actively traded US stock on Monday was the Regional Bank, .
• New York Community Bank Corp, which was down another 23%. .
• The market doesn't seem to be as worried about this regional bank falling apart as .
• it did last year, but we'll just have to wait and see what happens. .
• And of course, if this Regional bank implodes, we don't know what other .
• financial institutions it's going to take down with it. .
• Looking at the Canadian stock market, starting off looking at the iShares for .
• the TSX-60, it was an inside day on Monday, so no change there. .
• What worked on Monday? .
• Well, it was materials, and of course, that includes the gold stocks. .
• Our real estate industrials and financials were the winners. .
• What didn't work? Well, it was the rest of the market, and .
• we'll take a look at the energy sector in a second. .
• Taking a look at gold stocks, We saw the TSX Global Gold Index lead the North .
• American markets higher on Monday, up over 4% on the day. .
• The price of gold continued to move higher on Monday, so did the price of silver. .
• Looking at the most actively traded gold stocks, it was a Kinross was the number .
• one, then followed by B2Gold, then Barrick, then a Agnico Eagle. .
• Now, gold stocks may get some US attention this time. .
• Newmont, which is in the S&P 500, it's the only gold stock in the S&P 500 was .
• actually the second best performer on the S&P 500 on Monday. .
• Looking at the energy sector, we saw .
• the iShares for the TSX Energy sector pulled back. .
• Yesterday had an inside day, did not close below the previous day's low. .
• We had a similar situation for the price of crude oil. .
• We saw natural gas up over 4% on the day. .
• Natural gas is on a buy signal right now. .
• Then looking at the stock house bullboards, the stock that people are .
• watching the most is Bayex, which is on its third day of a sell signal. .
• Then we had Whitecap make a new high for this move. .
• We had an outside reversal day for Suncor. .
• It shows up as a bearish reversal day .
• here, and you can see where we've had bearish reversal days before. .
• Bearish reversal signal is a one-day event. .
• We're looking to see if we get follow through to the downside on Tuesday. .
• Then looking at Athabasca, a new closing .
• high for that stock, and We're up at our next price target of 5. .
• 08. .
• And then looking at Tamarack, a new high there. .
• Hit our next price target of 3. 52. .
• So congratulations. .
• Then Kelt was the best-performing energy stock on the TSX on Monday, up at 2. .
• 14% for the day. .
• Let's finish off looking at financials and .
• looking at the iShares for the financial sector. .
• Still on a buy signal here. .
• Then looking at the BMO Bank ETF, a new high for this move on Monday. .
• Bank of Nova Scotia, which for a lot of .
• 2023 was the dog of the banking sector, made a new high for this move. .
• We also saw a new high for CIBC. .
• Fairfax, which had a huge A huge pullback .
• a couple of weeks ago when some short sellers took a run at it, has completely .
• recovered and on Monday made a new high for this move. .
• Then the TSX also made a new high. .
• It's one of my favorite Canadian financial stocks. .
• On the other hand, TD Bank rolled over. .
• It is back on a sell signal as of Monday's close. .
• Okay, folks, that is all for this morning's presentation. .
• It looks like we're going to have a mixed open. .
• The Nasdaq is leading the US indices lower. .
• At the same time we have gold and crude .
• oil trading higher on Tuesday morning, and that could help the Canadian market. .
• Have a great day, folks. .
• Next time you'll hear my voice is on .
• Wednesday morning, and at that time, we'll take a closer look at the US stock market. .