Stock Market Outlook for October 21
Stock index futures are pointing higher ahead of Wednesday’s open, led by the NASDAQ, as several technology stocks trade higher in the pre-market. SpaceX is approaching a potential buy signal, while Netflix remains under pressure following a sell signal. Crude oil experienced significant volatility on Tuesday, with energy markets and Canadian energy stocks showing mixed performance. In Canada and the United States, healthcare and real estate were among the strongest sectors, suggesting investors favored more defensive areas of the market.
The major indexes and technology stocks continue to show mixed technical signals. The NASDAQ 100 is attempting to break above recent resistance, while the Russell 2000 remains below a buy signal. The VIX indexes remain on buy signals for the S&P 500, NASDAQ, and Russell 2000, highlighting continued market uncertainty. Among the Magnificent 10 stocks, Apple and Shopify remain on buy signals but face resistance, while Alphabet, Meta, and Nvidia continue to show signs of weakness. With no major economic reports scheduled for the morning, attention turns to whether early buying strength can carry into the trading session.
Stephen Whiteside
Wednesday, October 21, 2026
