In today’s market update, Stephen Whiteside from TheUpTrend.com analyzed stock movements ahead of key employment numbers. The S&P 500 is on track for a weekly sell signal, joining the NASDAQ 100 and Russell 2000. The VIX rose, signaling bearish sentiment, while gold remained steady and crude oil fell over 5%. Major market movers included Nvidia, down 5.74%, and MongoDB, which plummeted 27%. Cryptocurrency trends remained unchanged, with Bitcoin and Ethereum failing to generate buy signals.
Reviewing the TSX and US most active stocks, key movements included Enbridge returning to a sell signal, TC Energy nearing one, and Tesla stagnating near its 2020 election price. Palantir and Marvell saw steep declines, while Alibaba maintained its buy signal. Whiteside closed with a note on declining Dow futures and Bitcoin pre-market movement, advising investors to monitor Friday’s close for confirmation of trends.
Stephen Whiteside
Friday, March 7, 2025
