In Tuesday’s pre-market session, stock index futures remained flat, with no major economic data influencing direction until the release of consumer confidence at 10 AM. Monday saw a short-covering rally across major indices, with the VIX moving lower and markets gapping higher. The Canadian market outperformed the U.S., led by Shopify’s gains, while TELUS was the biggest loser. Tesla surged nearly 12%, driven by short covering, reaching a key resistance level near the 200-day moving average. Meanwhile, the Nasdaq 100 struggled to break above this level, with key stocks such as MicroStrategy surging, while Starbucks and Coca-Cola declined.
Bitcoin ETFs saw renewed buying, with several names like Coinbase, Galaxy, and Hut 8 triggering buy signals. Despite Monday’s strong market rebound, Tuesday’s early trading showed little follow-through, leaving investors waiting for confirmation of continued momentum. Stephen Whiteside concludes the update by reminding traders to watch key resistance levels and trends in the coming days.
Stephen Whiteside
Tuesday, March 25, 2025
