Markets are under pressure heading into the final trading day of January, with stock index futures, commodities, and cryptocurrencies all trading lower in the pre-market. Stephen reviews weekly performance across major asset classes, noting strength in semiconductors, energy stocks, gold, silver, and copper, while small caps and some financials lag. Despite recent highs near 7,000 on the S&P 500, the market is showing early warning signs as volatility rises and options traders remain cautious.
Technical levels are becoming critical across U.S. and Canadian markets. The S&P 500 is still on a buy signal but is testing key support near its 50-day moving average. Mega-cap tech shows mixed signals, with Meta surging on news while Microsoft and Tesla weaken. Energy and metals remain leadership areas, though profit-taking could emerge as Friday selling pressure builds. Overall, traders are urged to respect trends, monitor support levels, and prepare for potential volatility into month-end.
Stephen Whiteside
Friday, January 30, 2026
