In this morning’s market update, Stephen Whiteside highlights the strong pre-market performance driven by NVIDIA, noting that the real importance lies in where the stock closes rather than where it opens. He explains how professional traders—not the public—ultimately influence market direction throughout the trading day. He also reviews major U.S. indices, pointing out mixed signals: while big-cap tech names are holding markets up, equal-weighted indices and small caps continue to break down below their October lows.
Stephen then covers the Canadian market, which has been relatively resilient, with strength in energy, financials, and tech. Bitcoin continues to weaken, approaching key support levels, and several crypto-related equities are making new lows. He concludes by emphasizing that today’s market action will hinge on NVIDIA’s closing performance, which should provide direction for the next several days.
Stephen Whiteside
Thursday, November 20, 2025
