In today’s market update, Stephen Whiteside from TheUpTrend.com recaps a highly volatile Monday in the financial markets. Stock index futures are pointing higher Tuesday morning, but Monday saw dramatic swings with new lows across major indices, intense volatility in the VIX, and significant moves in both the stock and bond markets. Major resistance levels remain overhead, and although a short-term bounce is possible, it may not change the broader trend. Key sectors like semiconductors and tech showed relative strength, while homebuilders and Apple lagged. Globally, markets in Europe and Asia were also hit hard.
The bond market saw uncharacteristic turmoil, with steep drops in instruments like the TLT and XBB. Among index ETFs, Super Micro and Shopify stood out as top performers, while Apple, MicroStrategy, and Bank of Nova Scotia led the losers. Commodities also struggled, with declines across oil, gas, copper, and metals—except for a minor uptick in silver. Whiteside concludes by saying a close above Monday’s high would be a bullish signal but not necessarily a call to action. The tone remains cautious as traders look for confirmation of a potential bottom.
Stephen Whiteside
Tuesday, April 8, 2025
