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The market outlook focused on growing technical weakness beneath the surface despite a positive pre-market setup. Semiconductor stocks were the primary source of concern, with sharp losses in South Korea and North America triggering renewed sell signals across key technology-related ETFs and indexes. The NASDAQ 100 moved back onto a sell signal, while major chip stocks including Nvidia, Broadcom, and ASML faced increasing downside pressure.

Outside technology, the S&P 500 and broader U.S. market indicators also shifted into more defensive territory. Commodities continued to weaken, with gold, silver, copper, and energy-related assets facing selling pressure. The VIX moved back onto a buy signal, suggesting rising market uncertainty. Although futures pointed to some short-term buying interest, the overall message emphasized caution as multiple sectors lost momentum and important support levels came into focus.

Stephen Whiteside
Wednesday, June 24, 2026

Stephen Whiteside’s June 23, 2026 Morning Market Outlook focused on growing weakness in the technology sector, with pre-market futures pointing sharply lower and the NASDAQ leading the decline. Major technology names including Google, Amazon, Microsoft, and several semiconductor stocks were under pressure, while SpaceX continued its dramatic post-IPO reversal. The presenter highlighted rising market risk, noting that several major indexes and ETFs were likely to generate sell signals if current conditions persisted throughout the trading session.

Beyond technology, the analysis examined key sectors across both U.S. and Canadian markets. Energy stocks remained relatively stable, while financials, gold stocks, and the broader Canadian market appeared vulnerable to new sell signals. Attention was also given to the VIX as an important indicator of market sentiment, with higher volatility levels potentially signaling a broader market downturn. The overall message emphasized caution as investors faced increasing signs of market weakness and trend deterioration.

Stephen Whiteside
Tuesday, June 23, 2026

Stephen Whiteside’s June 22, 2026 morning market outlook highlighted a quiet start to the trading week, with no major economic reports scheduled and only minor pre-market movement in stock index futures, crude oil, and gold. The VIX remained supportive of higher stock prices after closing below its lower channel line, while key market ETFs such as the TSX 60 and SPY remained close to potential sell signal levels, placing investors on alert for any change in market direction.

The presentation also reviewed major commodities and leading stocks. Gold remained on a sell signal while gold stocks showed mixed performance, crude oil continued testing important support levels, and natural gas remained on a buy signal pending a breakout. Among large-cap technology stocks, the NASDAQ 100 stayed on a buy signal, while several Magnificent Seven components, including Apple, Meta, Microsoft, NVIDIA, Shopify, and Tesla, remained under pressure, reflecting a market that is stable but lacking strong upside momentum.

Stephen Whiteside
Monday, June 22, 2026

Stephen Whiteside reviews market activity following the Father’s Day long weekend, noting that U.S. equities maintained their bullish momentum despite ongoing geopolitical uncertainty. The S&P 500 remained inside its trading channel while the NASDAQ 100 and semiconductor sector led gains, reflecting continued strength in AI-related stocks. He also highlights key technical levels for the VIX, explaining that volatility remains subdued and has not yet signaled a meaningful shift in market sentiment.

The update also focuses on weekly market signals and long-term price targets across major asset classes. New weekly sell signals emerged in both Canadian and U.S. energy sectors, while bonds generated a new weekly buy signal. Whiteside reviews important resistance and support levels for major indexes, sectors, and ETFs, emphasizing that investors should remain cautious as global tensions continue to rise and market risk remains elevated despite the current bullish trend.

Stephen Whiteside reviewed market conditions heading into the weekend, noting that U.S. markets were closed while Canadian markets were expected to be thinly traded. The overall market tone remained constructive, supported by a declining VIX and strong weekly gains in major U.S. indexes, particularly the NASDAQ and semiconductor sector. Crude oil weakened significantly during the week, while gold remained relatively flat and Bitcoin continued to trade without a clear trend.

The analysis focused on key price targets and technical levels across major ETFs and sectors. In Canada, financial stocks continued to provide leadership while materials, gold stocks, energy, and technology showed signs of weakness. Several TSX leaders were reviewed, with Air Canada benefiting from lower oil prices and Bank of Nova Scotia approaching an important price target. Investors were encouraged to remain aware of changing sector leadership and key support and resistance levels heading into next week.

Stephen Whiteside
Friday, June 19, 2026

Markets are poised for a higher open on Thursday after futures recovered part of Wednesday’s post-Federal Reserve losses, with the NASDAQ leading the rebound. However, weakness in crude oil and gold could weigh on Canadian equities, while upcoming U.S. jobless claims data has the potential to shift market direction before the opening bell. Despite Wednesday’s volatility, the major U.S. indexes traded back into their channels and avoided generating new sell signals.

Sector performance was broadly negative, with several U.S. sectors moving back onto sell signals while Canadian financials remained a standout strength, reaching new highs. The update also highlighted key technical levels across major stocks, including NVIDIA, Shopify, Tesla, and Meta. Investors were advised to review any new sell signals before acting, as stronger pre-market trading could invalidate some of Wednesday’s bearish signals.

Stephen Whiteside
Thursday, June 18, 2026

Markets entered Wednesday on a cautious note with investors focused on three major events: retail sales data, energy inventories, and the Federal Reserve meeting. While stock index futures were generally positive in pre-market trading, the broader market remained in a consolidation phase. The Dow, TSX 60, and TSX Composite Index reached new highs, but the broader U.S. market, including the S&P 500 and NASDAQ 100, continued to trade below key resistance levels that would be needed to trigger the next leg higher.

Sector performance remained mixed. Financial stocks continued to strengthen, with Canadian financials reaching new highs and U.S. financials recovering back toward February levels. Meanwhile, semiconductors experienced profit-taking, energy stocks remained under pressure due to declining crude oil prices, and volatility indexes stayed on sell signals, reflecting investor confidence. The market’s next directional move may depend on how traders react to economic data releases and the Fed’s policy announcement later in the day.

The market entered Tuesday morning on a calmer note after Monday’s strong rally, with stock index futures modestly above fair value. The NASDAQ continued to lead the advance, while falling crude oil prices provided additional support for equities. The TSX and Dow Jones Industrial Average both reached new all-time highs, and attention remains on whether the NASDAQ can break above the 750 level to target higher resistance.

Sector performance was driven by weakness in energy and strength in precious metals and technology. Lower oil prices pressured energy stocks, with several major names among the day’s biggest losers. Meanwhile, gold and silver advanced toward key resistance levels, boosting mining shares. Technology stocks, particularly semiconductor-related companies, led gains in the U.S. market, while the VIX moved back onto a sell signal, supporting the current bullish market trend.

Stephen Whiteside
Tuesday, June 16, 2026

Markets are set for a strong start on Monday, with Nasdaq futures leading higher and crude oil prices falling more than 5% in the pre-market. The decline in volatility pushed the VIX sharply lower on Friday, triggering sell signals for VIX ETFs. Canadian equities continued to strengthen, with the TSX 60 and Vanguard Canada ETF generating buy signals, while financial and banking stocks performed well on both sides of the border.

In the U.S., major market ETFs including the S&P 500, Nasdaq, Russell 2000, small caps, and microcaps all showed improving technical strength and new buy signals. Semiconductors also returned to a buy signal, while energy stocks remained weak as falling crude prices pressured the sector. Commodity markets were mixed, with copper improving, gold and silver nearing potential buy signals, and energy-related assets continuing to struggle heading into Monday’s trading session.

Stephen Whiteside
Monday, June 15, 2026

 

Will the stock market break higher or roll over? In this weekend update, Stephen Whiteside reviews the latest action in U.S. and Canadian markets, including financials, banks, semiconductors, crude oil, and the VIX. Learn why key sectors are showing strength, what recent sell signals mean, and how risk management can help protect your portfolio during periods of market volatility. Get prepared for the week ahead with this comprehensive market outlook.