In Wednesday morning’s market update, Stephen Whiteside from TheUpTrend.com highlights a stronger-than-expected bounce in the markets, sparked by positive economic sentiment and news that Trump will not remove the Fed Chair. Pre-market futures are up, with supportive signals coming from declines in the VIX and a surge in commodities like crude oil and copper. The Canadian market is showing strength, particularly in the energy and financial sectors. Several key U.S. sectors including banks, biotechs, and retail ETFs have returned to buy signals, although major indices like the S&P 500 and NASDAQ 100 remain on sell signals—potentially poised to flip given the pre-market optimism.
Stephen also provides a detailed technical review of the Dow 30 stocks, highlighting buy signal thresholds and recent price action. While names like Apple, Amazon, and Microsoft remain weak, others such as JP Morgan, Coca-Cola, McDonald’s, and Walmart are gaining traction. The video ends with a reminder for short traders to cover positions if buy signals emerge, and encourages viewers to stay trend-focused. This update serves as both a market briefing and an educational tool for timing the stock market effectively.
Stephen Whiteside
Wednesday, April 23, 2025
