In Thursday’s market update, Stephen Whiteside of TheUpTrend.com highlights that today marks the final trading day of the week due to the Good Friday holiday. While the broader market shows mixed signals, a notable disturbance is caused by UnitedHealthcare, which is experiencing a sharp pullback. Despite this, several sectors, particularly energy and gold, are helping to support the Canadian market. Meanwhile, U.S. indices such as the S&P 500, NASDAQ, and Russell 2000 remain in pause mode with no breakout from last week’s ranges.
Stephen reviews weekly charts early, noting strength in commodities like gold, while U.S. stocks continue to exhibit indecision. He reports weakness across tech and the Magnificent Seven, semiconductors, and financials, whereas gold stocks are climbing to new highs. Specific stocks like B2Gold and Palantir show bullish activity, but many U.S. names remain on sell signals. The VIX is retreating slightly, but there’s still no clear sign of a market reversal. Stephen advises caution and partial positioning, suggesting traders wait for further confirmation before fully committing.
Stephen Whiteside
Thursday, April 17, 2025
