In today’s premarket update, Stephen Whiteside discusses the stock market’s reaction ahead of the Federal Reserve’s meeting. While stock futures are slightly below fair value, commodities like gold and crude oil are rising. The market’s volatility is evident, with indices struggling against major moving averages and resistance levels. Tesla, part of the Magnificent Seven, continues its decline, reflecting broader market weakness. Despite a bullish session on Monday, no major trend reversals occurred.
The VIX remains low, supporting potential higher stock prices, while gold, silver miners, and energy stocks continue to perform well. Whiteside notes historical market shifts, warning that early leaders like Tesla are not immune to decline, citing past tech industry examples. With key resistance levels in focus, investors await the Fed’s decision, which could influence market direction.
Stephen Whiteside
Tuesday, March 18, 2025
