In this Thursday market update, Stephen Whiteside of theuptrend.com discusses the sharp reversal seen in the markets following President Trump’s unexpected mid-day announcement. Despite Wednesday’s strong rally—especially among semiconductors, the Magnificent 7, and select Nasdaq stocks—Whiteside advises caution, emphasizing the lack of follow-through on Thursday morning. He recommends covering short positions that triggered buy signals and waiting for further market direction before initiating new trades.
Whiteside also highlights the influence of the bond market, noting foreign bond sell-offs from China and Japan contributed to rising yields and spooked the White House. He provides technical commentary on key stocks like Nvidia, Apple, and Micron, noting buy signals and strong performance in certain sectors, while energy, metals, and Canadian equities showed less momentum. Despite notable gains, Whiteside remains conservative, advising investors to watch inflation and employment numbers and resist chasing recent rallies.
Stephen Whiteside
Thursday, April 10, 2025
