In Wednesday morning’s premarket update, Stephen Whiteside of TheUpTrend.com notes a quiet start to the trading day with flat index futures and rising commodity prices. Market participants are awaiting the release of the Fed meeting minutes at 2 PM ET, which could influence afternoon trading. Tuesday was a strong recovery day, with the Magnificent Seven ETF leading gains and Nvidia earnings expected after the close. The Nasdaq returned to a sell signal, while the TSX 60 slightly outpaced the broader TSX. Bank of Nova Scotia and TMX Group were among the top performers in Canada, while Bank of Montreal was trading higher in the premarket ahead of earnings.
Whiteside also highlights that despite gains in major indices like the Nasdaq and S&P 500, mid-, small-, and micro-cap stocks remain range-bound. In bonds, Tuesday saw money flow back into TLT, XBB, and junk bond ETFs, potentially supporting higher stock prices if the trend continues. However, he cautions against trading bond ETFs due to their low volatility, suggesting futures as a better vehicle for bond exposure. He ends with a reminder that today’s market hinges on Nvidia’s post-market earnings and invites viewers to visit TheUpTrend.com to learn more about stock market timing.
Stephen Whiteside
Wednesday, May 28, 2025
