In Friday’s premarket update, Stephen Whiteside from TheUpTrend.com highlights that stock index futures and gold prices are slightly lower ahead of the final trading day of the month, a period typically showing a bullish bias. He notes that the week is shaping up to be an “inside week” for major indexes like the Dow, S&P 500, and Russell 2000, signaling market indecision. The NASDAQ is slightly more active, supported by big-cap tech stocks, while the TSX hit a new all-time high despite weakness in energy and gold sectors. Notably, the VIX remains supportive of higher stock prices in the short term.
Stephen also examines notable reversals and signals in high-volume U.S. and Canadian stocks. Nvidia showed a weak bearish reversal pattern despite making a new high. Royal Bank generated a new sell signal, diverging from other strong Canadian banks. Among U.S. actives, Tesla is showing signs of buyer fatigue, and Ford, Lucid, and Sunrun have no clear trend changes. Uranium and solar sectors moved in opposite directions midweek. He concludes with expectations for increased volatility in June and a potential rise in the VIX, which could apply downward pressure on the markets.
Stephen Whiteside
Friday, May 30, 2025
