In this Friday morning update, Stephen Whiteside of TheUpTrend.com provides a pre-market overview, highlighting that stock index futures, commodities, and Bitcoin are all trading above fair value with no major economic reports expected. Bitcoin is pushing toward its next target of $125,000, while the U.S. Dollar Index and bond yields continue to trend higher. Despite declines in crude oil and gold, major indexes like the TSX, S&P 500, and NASDAQ 100 are hitting new all-time highs. The VIX remains subdued, with no significant signs of rising fear in the market, though Stephen outlines key levels that could shift sentiment if breached.
On the ETF front, the TSX 60 and S&P 500 are approaching key price targets, while the NASDAQ 100 and Russell 2000 are near their respective highs. U.S. financials and bank ETFs need to break resistance levels to confirm continued upward momentum. In sector performance, gold stocks are under pressure, but semiconductors and tech leaders in the “Magnificent Seven” continue to support the rally. Stephen wraps up by advising investors to take profits at target levels and closely monitor market signals like the VIX and key price targets as we head into the weekend.
Stephen Whiteside
Friday, July 18, 2025
