Stephen Whiteside opens the Wednesday morning update by noting quiet stock index futures, with tech slightly leading lower ahead of upcoming job numbers that could shift market direction. The VIX shows divergence versus the major indexes, signaling options traders remain cautious despite strong index performance.
Sector-wise, mining and precious metals dominated Tuesday, with gains across gold, silver, copper, platinum, and related stocks like Newmont. In contrast, the Venezuela-driven energy rally reversed sharply. Chip stocks posted outsized gains, while individual names showed mixed signals, with some breakouts, reversals, and ongoing buy or sell signals across popular equities
Stephen Whiteside reviews the first full trading day after the Christmas holiday period, noting a strong pop in markets but cautioning against overreacting to thin holiday trading. While U.S. markets rose modestly, the Canadian market led North America, driven largely by strong gains in metals and mining stocks. Bitcoin surged nearly 5%, volatility ticked higher, and energy was the top-performing U.S. sector.
In contrast, Canadian energy stocks were hit hard and returned to sell signals, though Whiteside views this as likely an overreaction. Precious and base metals saw significant gains, Canadian banks made multiple new highs, and he advises patience—“sit on your hands”—and allow markets a few days to settle before making portfolio changes.
Stephen Whiteside
Tuesday, January 6, 2026
00:00 Introduction & Post-Holiday Market Context
00:32 Focus on Canadian and U.S. Markets
00:47 Bitcoin Surge, S&P 500, Nasdaq & VIX Update
01:07 U.S. Energy Strength vs Canadian Market Performance
01:41 Canadian Energy Sell Signals & Holiday Trading Caution
02:09 Crude Oil Midterm Outlook
02:23 Materials, Gold & Base Metals Lead Toronto
02:38 Copper, Gold, Silver & Platinum Breakout Moves
03:09 Canadian Banks Make New Highs
03:30 TSX Most Actives & Energy Sector Overreaction
04:01 Cenovus, TD Bank & Energy Stock Signals
04:25 TC Energy, Baytex & Whitecap Volatility
04:57 Gold Stocks, Suncor & Enbridge Levels
05:27 Mining Stocks & Telus Technical Review
06:01 Bitcoin Stocks & Bitfarms Buy Signal
06:11 Final Market Outlook & Patience Message
Stephen Whiteside delivers a holiday-shortened pre-market update, noting that shortened trading weeks often carry a bullish bias. Stock index futures are trading above fair value, led once again by technology stocks, with Micron and NVIDIA driving gains. NVIDIA closed above its upper channel line on Friday, triggering a new buy signal, and is coming off oversold conditions. The VIX remains on a sell signal, which supports higher equity prices.
In commodities, copper and copper miners hit new highs, while gold, silver, and gold miners continue trending higher with multiple new highs across global and junior indexes. Energy remains weak, with crude oil, gasoline, natural gas, and energy stocks all on sell signals. Stephen wraps up with a holiday message, a reminder about upcoming weekend updates, and encouragement to donate blood during the holidays.
In today’s quiet pre-market update, Stephen Whiteside reviews notable movers like Nike and Oracle, explaining why both remain unattractive despite pre-market action. Nike’s sharp drop follows a bearish reversal and resistance at the Fly Paper Channel, while Oracle continues to form lower highs and lows, failing to signal a trend reversal.
Stephen then surveys the broader market, noting modest weekly declines across major indexes, steady VIX behavior, mixed sector performance, and strength in gold and silver. He highlights key technical levels in stocks like NVIDIA, Shopify, and Micron, concluding that holiday conditions are keeping markets subdued ahead of the weekend.
Markets opened Thursday with stock index futures above fair value ahead of key 8:30 a.m. economic data. The Nasdaq led pre-market gains, driven largely by Micron trading sharply higher, while other indices lagged. Metals pulled back slightly after strong recent gains, with continued investor interest in gold, silver, and platinum suggesting underlying risk concerns.
Volatility indicators showed no trend changes, while most major ETFs and active stocks remained in established trends. Weakness persisted in semiconductors and select tech names, highlighting classic lower-high, lower-low patterns in stocks like Uber. Tesla saw a bearish reversal but stayed on a buy signal. Canadian markets were supported by metals, with selective trend changes among banks and energy stocks.
Stephen Whiteside opens with a pre-market overview showing stock index futures and commodities trading higher while Bitcoin slips. Crude oil hit a new low before rebounding, reflecting weakening demand as the U.S. moves toward recession. Energy stocks were among the biggest losers, with notable declines across U.S. and Canadian names, while gasoline prices fell back to October lows.
He reviews market signals across major ETFs, noting sell signals in U.S. markets while Canada remains on a buy signal. A cautious move is planned with a half position in a VIX ETF. Tesla remains strong near key levels, Broadcom trends lower with downside targets discussed, and the session closes with expectations for modest buying that won’t yet reverse the broader downtrend.
Stephen Whiteside outlines a volatile market environment following Friday’s sharp selloff, led by Broadcom’s steep decline and widespread sell signals across semiconductors, QQQs, and many actively traded stocks. While S&P 500 and Dow avoided sell signals, several ETFs and big-cap tech names weakened, with moving-average breaks raising caution. Futures point higher Monday, led by Nasdaq, though some enterprise tech remains weak pre-market.
He reviews key stocks and ETFs, highlighting mixed trends across AI, innovation, and energy names, with select banks making new highs. Tesla attempts a breakout, Intel and NVIDIA return to sell signals, and ARC ETFs show divergence. He closes with commodities and crypto updates, notes his next video will be Wednesday, and emphasizes disciplined signal-based decision-making.
In today’s Friday market update, Stephen Whiteside reviews mixed pre-market conditions with stock index futures flat and commodities—especially gold and silver—moving sharply higher. He highlights ongoing weakness in technology stocks, led by Broadcom, and notes that despite some short-term volatility, weekly charts show limited change, with the S&P 500 slightly higher and the Nasdaq mostly flat. Semiconductors and the Canadian market continue to show strength, while crude oil and natural gas remain weak. NVIDIA is still on a weekly buy signal but sits near levels that could trigger a sell signal if weakness continues.
Stephen then uses Oracle’s steep multi-month decline as a template for what large-cap tech stocks might experience heading into 2026. He reviews the behavior of moving averages, the FlyPaper channel, and sell-signal setups across several Magnificent Seven stocks, noting increased vulnerability across the sector. While some names like Tesla and Shopify are holding up, others—including Alphabet, Microsoft, and Amazon—are showing bearish patterns or are close to generating sell signals. Overall, the tech sector faces renewed downward pressure heading into the weekend.
