NASDAQ Leads the Selloff: Critical Stock Market Levels to Watch
The stock market faces renewed selling pressure on Thursday, October 22, as NASDAQ futures lead the decline toward the bottom of their Average True Range. U.S. jobless claims could influence the opening direction, while crude oil trades higher and gold lower. Although Wednesday produced several new buy signals, the S&P 500 and NASDAQ 100 failed to close above Friday’s highs, leaving an important breakout unconfirmed. The TSX, meanwhile, reached a new high.
The key message is to remain patient and avoid chasing new buy signals until price action confirms a breakout. Several stocks, including SpaceX, Tesla, IBM and Nvidia, are pulling back in pre-market trading. Netflix remains weak, while Cloudflare is at a critical test of support. The video also highlights important technical price levels for Canadian and U.S. stocks, including Ivanhoe, Enbridge, TC Energy, Supermicro, CoreWeave and Bank of America.
Stephen Whiteside
Thursday, October 22, 2026
