In this Monday morning update, Stephen Whiteside from TheUpTrend.com reviews the pre-market conditions, highlighting a broad decline in stock index futures led by the Nasdaq. Despite a slight pop in the VIX, it remains on a sell signal, suggesting diminishing market tension. Major economic reports are expected later in the week, while Netflix trades higher on a buy signal. Crude oil is down in pre-market, potentially offsetting recent buy signals in the energy sector. Gold continues to rise, signaling global stress, even if the VIX doesn’t reflect it locally. The U.S. dollar is down, and the Canadian dollar is up—no change in trend for either.
Stephen also examines sector and index performance, noting that Canadian markets are currently stronger than U.S. markets. Gaps left behind from recent declines remain a technical focus. While U.S. consumer discretionary is weak, staples are on a buy signal, reflecting investor caution. Gold stocks, especially Canadian ones, are performing well, and commodity prices like copper and precious metals are trending higher. Bond markets remain mixed. Stephen concludes by emphasizing the importance of market closes over opens, urging viewers to watch for professional buying signals at the end of the day.
Stephen Whiteside
Monday, April 21, 2025
