Hello everyone,
and welcome to Tuesday morning.. In the pre market this morning,
things are fairly bullish.. We've got stock index futures
slightly above fair value.. Commodities are all trading above fair. value, being led higher
by crude oil up over 2%.. Well, we had a lot of negative
news come out of China yesterday.. It didn't really seem to hurt
the stocks very much.. There's the SPDR China ETF
closing up on the day.. And then some of the casinos.. Got some good news yesterday from China.. And so we saw WINN resorts and Las Vegas
sands both trade higher on Monday.. Now looking at the rest of the market,. starting with the VIX,
the VIX gapped higher yesterday,. closed at the lower channel line, so
we're still looking for a close above 23.. 73 on Tuesday.
Looking at the US.. Dollar index, while day yesterday we went
down to retest the recent low and then. reversed closed higher on the day,
looking for close on Tuesday above 107.44.. Now, the biggest news of the day was
the big reversal in the price of crude. oil, which dipped below 75
and then closed higher on the day.. And as I mentioned earlier,. we're trading higher again in the pre
market on Tuesday morning.. Looking at the major index ETFs,. you can see we dipped into the channel for
the Dow Diamonds, as did the SPDR ETF.. And then the QQQ's for the Nasdaq traded. down to the lower channel line yesterday,
looking for a close on Tuesday below 281.. 30 to give us a sell signal there's. the Ishares for the TSX 60 holding
just above the upper channel line.. Now, energy stocks moved down yesterday.. The Ishares for the TSX 60 down 1.. 6%, while the SPDR ETF in the US.. Was down 2.74 percent,. Back on a daily Sell
signal looking at gold.. Gold was down $14.30 yesterday, looking
for a close on Tuesday below 1750.. 69.. The gold miners ETF, the GDX,. traded down to the lower channel line,
looking for a close below 27.. 20 on Tuesday to give us a sell signal.. And then for the Ishares
for the TSX Global Gold Index,. we're looking for a close below 16.44.
Looking at some stocks in the news.. Well, Apple had a big down day yesterday.. It is back on a sell signal.. So it looks like we've put
in a lower high once again.. Now we'll have to wait and see
if we can put in a lower low.. Looking at Tesla,. Tesla traded up to the upper channel line. yesterday, we're looking
for a close above 187.. 37 to give us a buy signal on Tuesday.. Amazon, I'm not sure people were overly. excited about how Amazon did during
Black Friday and Cyber Monday.. We traded higher yesterday,
we're still looking for a close above 96.. 28.. Now compare that stock to Walmart,
which hit a new high on Monday.. And our last chart this
morning is Shopify.. Shopify got some great Black Friday news
and it gapped higher,. closing above the upper channel
line on both sides of the border.. Okay, folks, that is all
for this morning's presentation.. Have a great day.. Next time you'll hear my voice
is on Wednesday morning..