Stock Market Outlook: Tech Rallies as Energy Stocks Tank!
U.S. markets started Tuesday with the Dow and S&P 500 above fair value while the Nasdaq was slightly below it. Monday’s rally was led by technology, particularly semiconductors and software, with the semiconductor sector approaching its August highs. The Nasdaq is also approaching the 750 level, identified as both a daily and weekly price target and a potential obstacle. Despite the broader market strength, the VIX rose slightly across major indexes, suggesting some caution.
The transcript highlights numerous new buy signals but advises against rushing into positions Tuesday morning. The TSX 60, Canadian small caps and information technology sector are near important levels, while energy stocks and crude oil have returned to sell signals. In the U.S., the broader market and semiconductors generated buy signals, with AMD gaining nearly 10%. The Magnificent 7 ETF rose more than 3.5%, while Amazon, Broadcom, Microsoft and Shopify showed improving signals. Tesla remains on a buy signal, with $375 acting as resistance and $358.65 as the key downside level.
Stephen Whiteside
Tuesday, September 22, 2026
