Market Outlook: Semis Slide, Metals Ready to Break Out?
In this morning market outlook, Stephen Whiteside highlights bullish seasonal tendencies for the final day of the month and quarter, along with a long weekend approaching. Oil and gold strength could support Canadian equities, but U.S. markets remain under pressure, continuing to make lower lows while the S&P 500 faces major resistance at a gap from last week.
The semiconductor sector led declines, breaking to new multi-month lows, with Nvidia losing major support and shifting focus to weekly downside targets. Meanwhile, metals are showing early signs of potential buy signals, and volatility remains elevated with VIX ETFs reaching new highs. The day may begin with buying but could turn to selling later.
Stephen Whiteside
Tuesday, March 31, 2026
