Asian markets fell sharply Tuesday, led by South Korea after Samsung’s earnings prompted a “buy the rumor, sell the news” reaction. Semiconductor weakness is also pressuring the Nasdaq, with the SMH ETF already lower in pre-market trading. The VIX and VIX ETF remain on sell signals, which continues to support higher stock prices, while bond yields remain on buy signals—a trend that could become a concern for equities if it persists.
The update reviews key Canadian and U.S. most-active stocks, with several financials holding buy signals while telecom, energy, and selected commodity names remain under pressure. Nvidia is facing resistance at $200, Intel is weaker in pre-market trading, and Tesla is testing its lower channel line. The immediate focus for Tuesday is whether tech-sector selling gains momentum and whether important support and resistance levels hold.
Stephen Whiteside
Tuesday, July 7, 2026
