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00:00:00Hello everyone, and welcome to Tuesday morning.
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00:00:02In the pre market this morning, things are fairly bullish.
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00:00:05We've got stock index futures slightly above fair value.
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00:00:08Commodities are all trading above fair
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00:00:11value, being led higher by crude oil up over 2%.
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00:00:15Well, we had a lot of negative news come out of China yesterday.
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00:00:18It didn't really seem to hurt the stocks very much.
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00:00:22There's the SPDR China ETF closing up on the day.
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00:00:26And then some of the casinos.
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00:00:27Got some good news yesterday from China.
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00:00:29And so we saw WINN resorts and Las Vegas sands both trade higher on Monday.
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00:00:35Now looking at the rest of the market,
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00:00:37starting with the VIX, the VIX gapped higher yesterday,
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00:00:40closed at the lower channel line, so we're still looking for a close above 23.
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00:00:4473 on Tuesday. Looking at the US.
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00:00:47Dollar index, while day yesterday we went down to retest the recent low and then
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00:00:52reversed closed higher on the day, looking for close on Tuesday above 107.44.
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00:00:58Now, the biggest news of the day was the big reversal in the price of crude
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00:01:02oil, which dipped below 75 and then closed higher on the day.
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00:01:06And as I mentioned earlier,
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00:01:08we're trading higher again in the pre market on Tuesday morning.
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00:01:13Looking at the major index ETFs,
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00:01:16you can see we dipped into the channel for the Dow Diamonds, as did the SPDR ETF.
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00:01:21And then the QQQ's for the Nasdaq traded
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00:01:23down to the lower channel line yesterday, looking for a close on Tuesday below 281.
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00:01:2830 to give us a sell signal there's
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00:01:31the Ishares for the TSX 60 holding just above the upper channel line.
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00:01:35Now, energy stocks moved down yesterday.
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00:01:37The Ishares for the TSX 60 down 1.
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00:01:406%, while the SPDR ETF in the US.
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00:01:44Was down 2.74 percent,
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00:01:46Back on a daily Sell signal looking at gold.
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00:01:50Gold was down $14.30 yesterday, looking for a close on Tuesday below 1750.
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00:01:5669.
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00:01:58The gold miners ETF, the GDX,
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00:02:01traded down to the lower channel line, looking for a close below 27.
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00:02:0420 on Tuesday to give us a sell signal.
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00:02:07And then for the Ishares for the TSX Global Gold Index,
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00:02:11we're looking for a close below 16.44. Looking at some stocks in the news.
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00:02:16Well, Apple had a big down day yesterday.
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00:02:18It is back on a sell signal.
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00:02:20So it looks like we've put in a lower high once again.
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00:02:23Now we'll have to wait and see if we can put in a lower low.
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00:02:27Looking at Tesla,
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00:02:29Tesla traded up to the upper channel line
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00:02:31yesterday, we're looking for a close above 187.
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00:02:3437 to give us a buy signal on Tuesday.
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00:02:37Amazon, I'm not sure people were overly
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00:02:40excited about how Amazon did during Black Friday and Cyber Monday.
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00:02:45We traded higher yesterday, we're still looking for a close above 96.
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00:02:4928.
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00:02:49Now compare that stock to Walmart, which hit a new high on Monday.
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00:02:55And our last chart this morning is Shopify.
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00:02:57Shopify got some great Black Friday news and it gapped higher,
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00:03:02closing above the upper channel line on both sides of the border.
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00:03:06Okay, folks, that is all for this morning's presentation.
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00:03:09Have a great day.
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00:03:10Next time you'll hear my voice is on Wednesday morning.