Stephen Whiteside delivers a holiday-shortened pre-market update, noting that shortened trading weeks often carry a bullish bias. Stock index futures are trading above fair value, led once again by technology stocks, with Micron and NVIDIA driving gains. NVIDIA closed above its upper channel line on Friday, triggering a new buy signal, and is coming off oversold conditions. The VIX remains on a sell signal, which supports higher equity prices.
In commodities, copper and copper miners hit new highs, while gold, silver, and gold miners continue trending higher with multiple new highs across global and junior indexes. Energy remains weak, with crude oil, gasoline, natural gas, and energy stocks all on sell signals. Stephen wraps up with a holiday message, a reminder about upcoming weekend updates, and encouragement to donate blood during the holidays.
Stephen Whiteside
Monday, December 22, 2025
