Stephen Whiteside’s Thursday morning market outlook highlighted a mixed pre-market environment as stock index futures traded below fair value while commodities fluctuated ahead of U.S. jobless claims data. Crude oil recovered above $100 after an earlier decline, gold weakened further, and NVIDIA-related momentum faded as fresh economic news took center stage. Whiteside also noted a reversal in the bond market, with bonds rising and yields falling, which helped support Wednesday’s stock market rally.
The video focused heavily on technical analysis across Canadian and U.S. markets, emphasizing that several major indexes remain on buy signals while some sectors appear overextended and high risk. Financials and bank stocks continued making new highs, while energy and gold stocks showed signs of weakness. Whiteside cautioned traders against aggressively chasing new positions at current levels and stressed the importance of monitoring channel breakouts, support levels, and volatility signals before expecting a significant change in market direction.
Stephen Whiteside
Thursday, May 21, 2026
