In Monday morning’s market update, Stephen Whiteside from TheUpTrend.com notes a quiet start to the trading week, with stock index futures, gold, and Bitcoin trading slightly above fair value. Despite the bullish bias often seen at month-end, this week is loaded with economic data and Wednesday’s Fed announcement, which could shift market direction. The VIX remains on a sell signal, and meme stocks like Opendoor, GoPro, and Krispy Kreme are gaining attention, while GameStop remains stagnant. Bitcoin bounced back in the pre-market, and Ethereum continues to struggle with resistance at 3750. Mixed signals are present among crypto stocks like Coinbase and Hut 8.
On the equities side, Friday’s most active stocks included Tesla, Nvidia, Intel, and Ford, each showing varied trends and setups. Intel saw a sharp drop, while Tesla remains rangebound. Canadian stocks also showed mixed signals, with Whitecap and Cenovus performing well while Teck Resources and TC Energy continue to decline. Several banks are hovering near key breakout or breakdown levels, with the Royal Bank and Bank of Montreal testing pivotal support/resistance points. With no major economic releases on Monday, the day may remain uneventful, but the rest of the week promises potential market-moving catalysts.
Stephen Whiteside
Monday, July 28, 2025
