This morning’s market update highlights mixed signals across North American indices. Futures were slightly lower in the pre-market, led by weakness in the Nasdaq, while major economic numbers were expected later in the morning. In Canada, the TSX-60 ETF and several sectors including financials and telecoms are edging closer to potential sell signals, while gold stocks experienced some pressure.
In the U.S., key ETFs such as the S&P 500, Dow, and Russell 2000 dipped into their channels, signaling possible sell triggers. Several sectors, including broker dealers, home builders, real estate, health care, and materials, have already rolled over into sell signals, despite recent interest rate cuts. Pharmaceuticals remain stuck in a channel, struggling to confirm a buy signal. The overall tone remains cautious, with timing emphasized as critical to navigating the current environment.
Stephen Whiteside
Thursday, September 25, 2025
