Markets pushed to new highs again this week despite worsening global conditions including flooding, wildfires, droughts, and rising energy prices. Oil and gasoline surged about 14%, volatility is nearing a buy signal, and the disconnect between markets and economic reality continues. Canadian and U.S. markets showed mostly “inside weeks,” signaling indecision rather than a major trend change.
Technology stocks continue to lead—especially semiconductors—while software stocks remain weak after brief pops from Microsoft and Oracle. The new Canadian telecom ETF (RING) shows a bearish long-term pattern, and Stephen warns the Middle East conflict could expand, keeping pressure on global energy and markets.
Stephen Whiteside
Sunday, April 26, 2026
