In today’s stock market update, Stephen Whiteside of TheUpTrend.com provides insights into pre-market trends, noting that stock index futures, commodities, and cryptocurrencies are trading higher. Key events this week include jobless claims on Thursday. The VIX reached a new high on Friday but showed signs of pulling back, potentially supporting stock price gains. The US dollar strengthened while the Japanese yen declined, and bond yields fell, though their impact on stocks remains uncertain. The Nasdaq 100 hit key price targets, and while a weak bullish reversal appeared on Friday, further confirmation is needed. Bitcoin is in focus as it approaches a potential buy signal, and commodity ETFs, including gold and natural gas, are showing mixed trends.
On the TSX, major stocks like TD Bank and Enbridge remain strong, while Royal Bank seeks a buy signal. Air Canada continues to struggle. In the US, Nvidia, Tesla, and Apple showed volatile trading patterns, with Tesla failing multiple rebound attempts and possibly targeting lower price levels. Despite Friday’s dramatic market movement, no major trend reversals have been confirmed. Investors are watching for a higher close today to signal potential shifts. Whiteside signs off with a reminder that market timing is crucial and encourages viewers to visit TheUpTrend.com for further insights.
Stephen Whiteside
TheUpTrend.com
Monday, March 3, 2025
