In today’s market analysis, Stephen Whiteside highlights the key factors impacting stock market trends, including the CPI numbers, the start of earnings season, and market behavior like lower highs and lower lows. He discusses oversold conditions on major indices, head-and-shoulder patterns forming, and significant gaps influencing the S&P 500, Nasdaq, and Russell 2000 indices. Market volatility is tied to movements in the US dollar, bond yields, and the VIX, with potential reversals needed to trigger sustained rallies.
Stephen reviews sector performance, noting Canadian and US energy stocks holding firm despite resistance, while financials, industrials, and real estate sectors are under pressure. Commodities like crude oil, gold, and copper showed mixed movements, with precious metal stocks struggling below key technical levels. He emphasizes the importance of timing and trend-following, inviting viewers to visit TheUpTrend.com for deeper insights.
Stephen Whiteside
TheUpTrend.com
Wednesday, January 15, 2025
