Monday’s market outlook begins with relatively calm pre-market trading despite significant overnight volatility in commodities. Gold plunged more than $100 while crude oil initially surged before reversing, leaving stock index futures modestly higher. Stephen reviews the return of VIX buy signals, new sell signals across semiconductor stocks, and weakening momentum in the NASDAQ 100, while noting that key support levels remain intact and several major technology stocks are approaching critical price levels that could trigger additional sell signals.
The discussion then shifts to the Canadian market, where bank stocks continue to demonstrate strength while technology shares remain under pressure. Individual updates include Shopify, Canadian Natural Resources, Celestica, Enbridge, and the major Canadian banks before concluding with a review of high-volume U.S. stocks such as NVIDIA, Alphabet, Microsoft, Amazon, Broadcom, Meta, Taiwan Semiconductor, and SpaceX. With no major economic reports scheduled, the expectation is for a higher market open while emphasizing that trend-following and risk management remain the primary focus.
Stephen Whiteside
Monday, July 20, 2026
