In today’s market update, Stephen Whiteside from TheUpTrend.com covers the performance of key indices, commodities, and stocks ahead of the Martin Luther King Jr. holiday weekend. While the S&P 500, Nasdaq, and TSX showed mixed signals, financial and energy stocks had notable movements, with US financials gaining strength and Canadian energy stocks showing weakness. Commodities such as crude oil, gold, and natural gas experienced fluctuations, with crude oil hitting new highs midweek before pulling back. Divergences between commodities and their respective mining or stock sectors, such as gold stocks lagging behind rising gold prices, were highlighted.
Stephen also analyzed specific trends in big-cap tech stocks like Apple and Tesla, alongside sectoral insights into banks, copper miners, and energy stocks. The video concluded with a reminder of upcoming market closures and the importance of timing and trend-following for successful stock market strategies. For more insights and tools for market timing, visit TheUpTrend.com.
Stephen Whiteside
TheUpTrend.com
Friday, January 17, 2025
