In today’s stock market update, Stephen Whiteside from TheUpTrend.com discussed the market’s reaction to the German election results, with stocks showing early strength as the Nazi party failed to gain significant support. He highlighted key economic events for the week, including ADP non-farm payrolls and initial jobless claims. Nvidia’s performance, bond market movements, and currency fluctuations were also reviewed, alongside a technical analysis of major stocks such as Walmart, Tesla, and Amazon.
The discussion covered the TSX Most Actives, including Enbridge, Manulife, and Bank of Nova Scotia, with insights on sell and buy signals. Whiteside emphasized the importance of trend following and timing for effective market participation. He concluded by advising traders to take advantage of Monday’s early strength to sell into rallies where sell signals were triggered on Friday.
Stephen Whiteside
TheUpTrend.com
Monday, February 24, 2025
