The market entered Friday with mixed index futures, led lower by the Nasdaq, while crude oil rose and gold and silver slipped. The broader weekly picture remained constructive: the VIX was down, supporting higher stock prices; the Dow reached a new high; the S&P 500 and Nasdaq were higher for the week; and the TSX was near a potential new weekly closing high. Energy stocks were strong, while gold stocks continued to weaken and remained on a weekly sell signal.
Attention shifted toward semiconductors, where several ETFs and major chip stocks were approaching potential buy signals. Nvidia remained on a buy signal, Broadcom had recently turned positive, and names such as Taiwan Semiconductor, Micron, Applied Materials, Lam Research, SanDisk, NXP, and Texas Instruments showed improving technical setups. However, with futures lower before the open, the key message was to watch for confirmation rather than chase potential buy signals immediately.
Stephen Whiteside
Friday, July 10, 2026
