In today’s Friday market update, Stephen Whiteside reviews mixed pre-market conditions with stock index futures flat and commodities—especially gold and silver—moving sharply higher. He highlights ongoing weakness in technology stocks, led by Broadcom, and notes that despite some short-term volatility, weekly charts show limited change, with the S&P 500 slightly higher and the Nasdaq mostly flat. Semiconductors and the Canadian market continue to show strength, while crude oil and natural gas remain weak. NVIDIA is still on a weekly buy signal but sits near levels that could trigger a sell signal if weakness continues.
Stephen then uses Oracle’s steep multi-month decline as a template for what large-cap tech stocks might experience heading into 2026. He reviews the behavior of moving averages, the FlyPaper channel, and sell-signal setups across several Magnificent Seven stocks, noting increased vulnerability across the sector. While some names like Tesla and Shopify are holding up, others—including Alphabet, Microsoft, and Amazon—are showing bearish patterns or are close to generating sell signals. Overall, the tech sector faces renewed downward pressure heading into the weekend.
Stephen Whiteside
Friday, December 12, 2025
