In Tuesday morning’s premarket update, Stephen Whiteside from TheUpTrend.com highlights a global shift in investor sentiment and market behavior. While futures and commodities are trading higher, Whiteside cautions that Tuesday may simply be an inside day after Monday’s losses. He notes that the global uncertainty index has surpassed its COVID-era high, driven largely by political instability in the U.S., and that gold has reached a new all-time high while the U.S. Dollar continues to weaken. The VIX remains in its channel, and investor sentiment has turned extremely bearish, with 82% expressing a negative outlook according to Bank of America.
Whiteside emphasizes that international investors are increasingly turning away from the U.S. market, citing the rise of “de-dollarization” and the growing role of countries like Brazil in global trade. He also reviews key price targets and potential buy signals in Canadian and U.S. stocks, particularly within the energy and mining sectors. Despite short-term bounces, structural resistance levels like the Flypaper Channel and broader macroeconomic concerns could hinder any sustainable rally.
Stephen Whiteside
Tuesday, April 22, 2025
