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Stocks Pause To Digest Recent Records; True Tactical Webinar Today

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US index futures are down 0.1%-0.3% this morning, less than yesterday’s gains of 0.75%-0.95% for the big 3 US indices and a gain of 2.50% for the Russel 2000. Considering that US indices have gone up 5-6 trading days straight now, propelling major indices to all-time record highs, a pause for some backing and filling is not unusual.

Overseas markets also appear to be taking a break so far today with the FTSE flat and the Dax down 0.4%. Asia Pacific markets rose overnight led by a 2.0% gain for Shanghai, while Hong Kong and Tokyo rose 0.4%-0.5%. In commodity action, energy is slipping a bit with WTI crude oil down 0.3% and natural gas down 2.9%. Metals are mixed with platinum up 1.5%, copper up 0.7%, gold up about 0.4% and silver flat.

It’s a quiet day for economic news, while on the political side investors appear to be focused more on initiatives for the future than refighting past battles with more attention on the new stimulus package working its way through congress and less attention on former President Trump’s second impeachment trial which starts today.

Earnings season is moving into its later stages in the US, with the majority of reports coming from medium-sized and smaller companies, and through its peak in Canada with several sector seniors reporting this week. In Canada today, Canopy Growth* reported stronger than expected sales ($152.5M vs street $148.9M) and suggested that its operating earnings may turn profitable in the second half of 2022. In the US today, duPont ($0.95 vs street $0.89) beat expectations. Later today, results are due from Cisco Systems, Lyft and Twitter.

*Shares of Canopy Growth are held in some portfolios managed by SIA Wealth Management

SIA Wealth True Tactical Webinar Tuesday February 9, 2:00 pm EST (1.5 CE Credits For Attending Advisors)

Join SIA Wealth Management as we discuss the benefits of a True Tactical approach to investing.

Webinar audio will be available through computer VoIP or dial in using your phone.

Register at:  https://register.gotowebinar.com/register/9347360828781325

After registering, you will receive a confirmation email containing information about joining the webinar.

SIA Wealth In The Media

Chief Market Strategist Colin Cieszynski recently appeared on BNN Bloomberg where he discussed True Tactical market rotation, the impact of US fiscal stimulus efforts on stocks and commodities, and why broad participation is important.

The TSX is seeing gains across a wide variety of sectors: Market strategist

Disclaimer: SIA Wealth Management Inc. (SIAWM) specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIAWM nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.

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At SIA Wealth Management everything we do is based on Relative Strength Analysis. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments.

Colin Cieszynski, Chief Market Strategist
Market Commentary:

Colin Cieszynski, CFA, CMT
Chief Market Strategist
ccieszynski@siawm.com
+1 (647) 282-4428

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