US stock index futures were trading higher Wednesday morning after significant declines across Asian markets, with Japan down more than 3%, China more than 5%, and Korea nearly 6%. The VIX rose Tuesday but remained insufficient to trigger buy signals for the S&P 500, Nasdaq, or Russell 2000, which remain on sell signals. New sell signals also appeared across major Canadian and US ETFs, including total-market, small-cap, and semiconductor ETFs.
Crude oil and energy stocks continued moving higher, while gasoline prices approached their July highs. The transcript also highlights declining US savings rates, a new intraday high in the 30-year Treasury yield, and the potential market impact of the latest Federal Reserve meeting minutes. Nvidia remains on a buy signal but would generate a sell signal below $217.44. Overall, the message is to remain cautious while monitoring market signals, interest rates, commodities, and geopolitical developments.
Stephen Whiteside
Wednesday, August 19, 2026
