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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.

Stephen Whiteside’s June 12, 2026 market outlook highlights a cautiously bullish pre-market environment, with stock index futures trading higher while investors await a breakout from Tuesday’s trading range. Market attention is focused on the highly anticipated SpaceX IPO, though the lack of trading history limits technical analysis opportunities. Commodities are mixed, with crude oil weakness helping support equities and gold showing pre-market strength.

From a technical perspective, major U.S. indexes remain range-bound, while semiconductors continue to lead market performance with strong weekly gains. Small-cap and mid-cap stocks generated fresh buy signals, Canadian financials reached new highs, and real estate stocks showed continued strength. Most commodity sectors, including gold, silver, copper, uranium, and energy, remain on sell signals, reinforcing the current preference for equities over resource-based investments.

Stephen Whiteside

Friday, June 12, 2026

Stephen Whiteside’s June 11, 2026 market outlook highlights a cautiously bearish environment despite stronger pre-market futures. Gold continued its breakdown below both the 200-day moving average and the March lows, reinforcing the ongoing bear trend in precious metals. Major market indexes, including the NASDAQ, Dow, TSX 60, and Vanguard Total Market ETF, posted inside days, signaling indecision and leaving traders focused on whether prices break above Wednesday’s highs or below Tuesday’s lows.

Sector performance showed energy leading while materials remained the weakest group in both Canada and the United States. Financial stocks remain an important area to watch, as they continue to show relative strength despite broader market weakness. Technology and semiconductor stocks mostly traded in narrow ranges, while the VIX remained elevated on a buy signal and cryptocurrencies were largely unchanged. Investors are awaiting inflation and jobless claims data for potential market direction, although recent trading has been driven more by AI-related stocks than economic reports.

Stephen Whiteside
Thursday, June 11, 2026

Tuesday’s trading session confirmed the market’s bearish bias following Monday’s inside day. Major indexes broke below Friday’s lows, triggering further downside movement, while the NASDAQ reached its next downside target before bouncing. The VIX moved above a key resistance level intraday, cryptocurrencies weakened, and commodities remained under pressure, with gold continuing its decline and crude oil showing only modest strength in the pre-market.

Sector performance was mixed, with home builders leading while semiconductors lagged. Energy stocks generated sell signals on both sides of the border, gold stocks continued making new lows, and several major stocks, including Apple and Tesla, remained under pressure. With CPI data and U.S. oil inventories scheduled for release, the market’s next move will likely depend on incoming economic data and whether key support levels can hold.

Stephen Whiteside
Wednesday, June 10, 2026

Good morning,

Unfortunately, due to technical difficulties, I am unable to post a video this morning.

While Friday was a tough day for the stock market, it certainly wasn’t unexpected. At this point, it remains a one-day event. We need to see additional negative price action before we can confidently call it a trend.

The VIX spiked to 21.88 on Friday. As I’ve mentioned previously, I believed the VIX would need to break above this level before the overall tone of the market changed. Despite Friday’s move, the VIX Bull ETFs remain on sell signals.

As the VIX moved sharply higher, the broader market moved lower. Friday’s trading action generated a significant number of new sell signals across the major indexes. The TSX 60 and the Dow 30 managed to hold up reasonably well, while most other major indexes generated sell signals.

At the same time, futures are pointing higher on Monday morning.

There is absolutely nothing wrong with sitting on your hands this morning. If you’re overly bearish, you may want to use this rally to sell into strength. If you’re overly bullish, check your symbols in the pre-market just before the open and see if they have moved back into the Right Side Channel. If they have, I would still be inclined to sit on my hands and wait for additional confirmation. Patience is a perfectly reasonable strategy this morning.

Personally, I’ll likely be doing a combination of both.

As I write this, NASDAQ 100 Futures are up 469.80 points. I’ll be watching closely to see if the market can retrace more than 50% of Friday’s losses. For the NASDAQ 100, that level comes in at 730.87 points. So far, we’re nowhere near that number.

That’s all for now.

Stephen Whiteside

Monday, June 8, 2026