Global markets enter Monday with elevated volatility after a turbulent end to the month. U.S. markets stabilized overnight following sharp losses, while Bitcoin, gold, energy, and Canadian equities all experienced significant selling. The S&P 500 remains near the 7,000 level with the VIX elevated, signaling ongoing investor nervousness as markets await either a breakout or breakdown from last week’s range.
Gold and silver have shifted to sell signals after a parabolic rise, Bitcoin bounced off key support near 75,000, and energy—especially natural gas—is under heavy pressure. Canadian markets are particularly vulnerable with metals and energy both declining. In the U.S., tech stocks are leading the weakness, while most small-cap and equal-weighted ETFs have already flipped to sell signals.
Stephen Whiteside
Monday, February 2, 2026
