The Market Looks Stronger, But 280 New Lows Raise a Warning
The market is entering Monday with a positive short-term tone. Futures are higher, volatility has declined across the major U.S. indexes, and investor fear has continued to dissipate. Despite that improvement, the breadth of the market remains a significant concern: new 52-week lows continue to vastly exceed new highs, suggesting that strength remains concentrated in a relatively small group of large-cap stocks.
There are several potential opportunities to watch. The TSX 60, Vanguard Total Market ETF and S&P 500 are close to generating buy signals, while the Nasdaq 100 is already on a buy signal. Silver and selected gold stocks are showing improving momentum, while semiconductors strengthened sharply Friday. On the other hand, crude oil, several energy stocks and smaller-cap stocks remain vulnerable, making Monday’s closing signals particularly important.
Stephen Whiteside
Monday, September 21, 2026
