This morning, we provide a market overview where stock index futures and commodities are trading below fair value, likely reacting to European news. Notable movements include Alibaba (NYSE:BABA)'s recent gains, Tesla (NASDAQ:TSLA)'s potential to break July highs, and weakness in North American auto stocks like Ford and General Motors (NYSE:GM). We highlight that the VIX remains on a sell signal, which is positive for stocks.
Looking at major ETFs, Canadian and U.S. markets remain on buy signals, with semiconductors and financials making key moves. Natural gas surged to $2.93, hitting price targets, while crude oil continues to struggle despite a buy signal. We conclude with commodity insights, noting small pullbacks in copper and precious metals, while energy remains volatile.
This content was originally posted on the Stock Market Timing YouTube Channel