In this stock market update, Stephen Whiteside from TheUpTrend.com analyzes market trends ahead of key economic data. He highlights a negative week for major U.S. indices, with the S&P 500 down over 2.5% and the NASDAQ leading declines at nearly 5%. The VIX remains on a buy signal, signaling continued market uncertainty. Tech stocks, particularly semiconductors, led the downturn, while Bitcoin and Ethereum showed resilience before dropping in pre-market trading. Canadian banks experienced mixed performance, with some maintaining sell signals and others showing volatility.
Whiteside also notes sector-specific trends, including a drop in gold prices and a slight pullback in crude oil. The end-of-month trading typically has a bullish bias due to automatic fund inflows, which could impact market movements. He advises traders to stay cautious and monitor key levels, particularly in high-profile tech stocks such as Apple, Microsoft, and Tesla. The video concludes with an invitation to subscribe for more updates on stock market timing strategies.
Stephen Whiteside
Friday, February 28, 2025
