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Gold Drops, Oil Jumps: What Traders Must Watch Today

In today’s morning market outlook, Stephen Whiteside highlights weakness in stock index futures ahead of jobless claims, alongside a sharp rally in crude oil and a drop in gold. The TSX continues to show relative strength, while the S&P 500 and NASDAQ remain just below breakout levels after hitting resistance near their 200-day moving averages.

Energy stocks may rebound as oil rises, while metals and gold stocks could pull back after recent gains. The video closes with reminders about watching pre-market confirmation of signals and following the trend when timing the stock market.

Stephen Whiteside
Thursday, April 2, 2026

Markets staged a strong “Turnaround Tuesday” rally as institutions deployed cash ahead of month-end and quarter-end, triggering short covering and widespread new buy signals. Futures point higher again, gold surged, and seasonal strength into the Easter long weekend is supporting bullish sentiment.

Despite the rally, major U.S. indexes remain below key milestones like the 200-day moving average and last week’s highs. Commodities and Canadian markets are holding up better, while traders are advised to manage shorts carefully, scale into new buy signals, and remain cautious as the broader downtrend may still be intact.

Stephen Whiteside
Wednesday, April 1, 2026

Market Outlook: Semis Slide, Metals Ready to Break Out?

In this morning market outlook, Stephen Whiteside highlights bullish seasonal tendencies for the final day of the month and quarter, along with a long weekend approaching. Oil and gold strength could support Canadian equities, but U.S. markets remain under pressure, continuing to make lower lows while the S&P 500 faces major resistance at a gap from last week.

The semiconductor sector led declines, breaking to new multi-month lows, with Nvidia losing major support and shifting focus to weekly downside targets. Meanwhile, metals are showing early signs of potential buy signals, and volatility remains elevated with VIX ETFs reaching new highs. The day may begin with buying but could turn to selling later.

Stephen Whiteside
Tuesday, March 31, 2026

Stephen Whiteside outlines the potential for a brief bullish bounce due to seasonal factors and oversold conditions following heavy selling. Futures are positive, but markets must reclaim Friday’s and last week’s highs to confirm strength. Commodities and energy leadership continue to provide support, particularly in Canada.

Despite the short-term bounce potential, the broader trend remains cautious with downside targets still in play. The VIX remains a key signal, traders are taking profits in bear ETFs, and several major U.S. stocks remain on sell signals. Netflix sits in a neutral zone awaiting a decisive breakout.

Stephen Whiteside
Monday, March 30, 2026

 

This weekend update warns that escalating global conflict in the Middle East and expanding trade tensions are creating major risks for the global economy and stock markets. Shipping disruptions in the Strait of Hormuz and Red Sea threaten oil, fertilizer, helium, and semiconductor supplies, potentially triggering a severe global recession. Rising tariffs and commodity shortages could worsen manufacturing slowdowns and accelerate inflation.

The stock market outlook remains bearish as the VIX continues rising and major U.S. indexes remain on weekly sell signals. The Magnificent Seven are now leading markets lower, institutional stress is growing, and the Japanese carry trade and Middle Eastern investment flows are fading. Commodity-heavy Canadian markets may outperform the U.S., but the overall outlook suggests continued downside risk and the need for strong portfolio protection.

Stephen Whiteside

Markets are set to open lower Friday as futures decline and volatility stays elevated. The VIX continues rising week-over-week, signaling persistent market pressure. While commodities are strong and may support Canadian equities, rising bond yields and oil prices are creating headwinds for U.S. stocks.

Most major indexes remain in downtrends with new lows appearing in the NASDAQ and large-cap tech. Energy and gold stocks remain resilient, while bonds continue to fall. The market is still trading within a defined range and needs a clear breakdown to signal the next major move.

Stephen Whiteside
Friday, March 27, 2026

In this pre-market update, Stephen reviews futures trading lower and commodities mixed before key jobless claims data. Despite multiple technical buy signals across sectors, the VIX remains elevated and the market is still in a trading range, prompting a cautious approach.

Materials, consumer discretionary, and select financial and airline stocks showed strength, while energy and communications lagged. The main takeaway is to reduce risk, avoid going all-in, and consider only small positions until stronger trend confirmation appears.

Stephen Whiteside
Thursday, March 26, 2026

Pre-market activity points to a higher open as falling crude oil prices boost equities, while gold continues to climb. However, caution remains after major indices showed weakness on Tuesday and volatility increased. A breakout above recent highs is needed to confirm a shift in market direction.

Meanwhile, the bond market selloff persists, driving yields higher and signaling that interest rate cuts may be delayed. Energy stocks are ლიდing, while copper and mining stocks lag. Traders are closely watching whether the market can build momentum or resume its downward trend.

Stephen Whiteside

Wednesday, March 25, 2026

Markets reversed sharply on Monday after early weakness, triggered by aggressive short selling in crude oil and buying in equities just before a major news catalyst. This led to a powerful short covering rally, pushing indices higher by the close.

However, the rally lacked strength beneath the surface. Key indices failed to break above resistance levels, forming negative chart patterns. While Canada showed relative strength, the broader market trend remains downward, with caution dominating sentiment.

Stephen Whiteside
Tuesday, March 24, 2026

Global tensions and supply disruptions in oil, fertilizer, and helium are beginning to ripple through financial markets, with energy stocks rising while gold and broader equities decline. Helium shortages could soon impact semiconductor production, one of the last sectors holding up the NASDAQ, while volatility remains elevated with room to move higher.

Markets in both the U.S. and Canada are now broadly on sell signals, with major indices forming lower highs and lower lows. While conditions are oversold and a short-term bounce is possible, the overall trend remains bearish. A meaningful recovery would require a breakout above last week’s highs, otherwise rallies are likely just short covering.

Stephen Whiteside
Sunday, March 22, 2026