Markets look set to open higher, but volatility signals remain elevated as the VIX rises despite index highs. The S&P 500 and NASDAQ dipped slightly, while the Russell 2000 produced a bearish reversal. Bitcoin continues to stall near $75K, reinforcing the theme of momentum slowing even as markets sit near highs.
The TSX showed growing risk as mining stocks and precious metals flipped back to sell signals, led by heavy losses in gold and silver miners. Energy stocks outperformed, and Baytex moved back onto a buy signal. In the U.S., oil & gas and semiconductor stocks led gains, with AMD standing out while NVIDIA remains stuck near the $200 level.
Stephen Whiteside
Wednesday, April 22, 2026
