Canadian Stock Market Trends 01242024

This video has been translated into Arabic, Chinese, French, German, Hindi, Japanese, Korean, and Spanish. Please visit https://theuptrend.com/canadian-stock-market-trends-01242024/ Stephen Whiteside TheUpTrend.com Wednesday, January 24, 2024 In the pre-market, stock index futures and commodities are above fair, indicating potential buying at the open on Wednesday morning. The VIX moving lower is supportive for higher stock prices, while the Dow experienced a pullback, with 3M playing a role in the decline. Canadian stock markets are showing mid-caps, small caps, and the TSX-60 on buy signals, with a focus on sectors like Infotec, telecom services, and consumer staples performing well. Meanwhile, commodity-related sectors, including base metals and gold stocks, are still on sell signals. The Canadian market has seen strength in real estate stocks, while Canadian bank stocks are on sell signals, with potential changes anticipated following the Bank of Canada's announcement. Energy stocks are holding at December lows, potentially signaling a bullish trend. Specific Canadian bank stocks, including the Bank of Montreal and Canadian Western Bank, are on buy signals, while others like the Bank of Nova Scotia and the TD Bank are showing weakness.