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
