In today’s stock market update, Stephen Whiteside discusses key market movements ahead of the Federal Reserve’s announcement. Energy stocks showed strength, with crude oil nearing a buy signal, while gold reached new highs. The U.S. dollar weakened, and bond yields remained steady, awaiting the Fed’s impact. Major indices like the TSX, S&P 500, and NASDAQ saw mixed performances, with tech stocks leading declines. Notable losers included Shopify, Nvidia, and Tesla, while Bitcoin continued its downward trend.
With the market highly oversold, a short-term bounce is possible, though resistance levels may limit gains. The reaction to the Fed’s decision will be critical in determining market direction. Stephen cautions that even if a rally occurs, it may be short-lived, with potential for a retest of recent lows. He encourages investors to stay focused on timing strategies and trend-following techniques to navigate market uncertainty.
Stephen Whiteside
Wednesday, March 19, 2025
